The South Korean won traded steadily around 1,473 per dollar, holding on to recent gains as risk sentiment improved on the back of a softer US currency and lower oil prices. Markets were guided by developments in US-Iran tensions, where a fragile ceasefire has largely remained in place despite persistent political and military uncertainty. Ongoing discussions over possible peace talks have reduced immediate safe-haven demand for the dollar, even though geopolitical risks remain elevated.
Additional support for the won came from strong trade figures, with South Korea’s exports exceeding $80 billion for a second straight month in April, underpinned by solid semiconductor shipments. The country also posted a trade surplus of more than $20 billion for the second consecutive month — the first time on record — despite continued global trade uncertainty and persistent tensions in the Middle East.
