FX.co ★ Won Climbs on Weaker Dollar, US–Korea Trade Momentum

The South Korean won appreciated to approximately 1,417 per dollar on Thursday, marking a gain for the second consecutive session. This rise is attributed to the weakening of the dollar amidst renewed tensions in trade relations between the United States and China. Within South Korea, investor confidence has been bolstered by indications of advancement in critical trade negotiations between Seoul and Washington. Reports suggest that both countries are nearing consensus on South Korea's commitment to a $350 billion investment as part of a trade framework agreed upon in July. On Wednesday, President Donald Trump remarked that Seoul had consented to make an "upfront payment" towards the pledged investment in the United States. These comments followed shortly after Treasury Secretary Scott Bessent implied that the two nations were on the verge of settling key differences. Both governments aim to finalize the agreement by the end of October, potentially at the APEC summit in Seoul, where President Trump and President Lee are expected to meet.