FX.co ★ South Korean Won Edges Lower Amid Foreign Selling

The South Korean won weakened to around 1,344 per dollar on Tuesday, giving back gains from the previous session as continued foreign equity outflows pressured the currency. Overseas investors sold a net KRW 693 billion (about $514 million) in local stocks on Monday, their seventh straight session of net selling, dampening demand for the won. Additional downward pressure came from dollar conversions by domestic semiconductor exporters, with firms reportedly accelerating dollar sales after the exchange rate moved into the 1,360-per-dollar range in the prior session. Still, the won’s decline was partly contained by improving global risk sentiment, supported by an overnight rally on Wall Street and a sharp drop in oil prices. Hopes for renewed US–Iran cease-fire talks further helped ease geopolitical concerns.