FX.co ★ South Korean Won Steady

The South Korean won stabilized around 1,398 per dollar on Monday, following its climb to a five-month high in the prior session amid rumors that the Trump administration is pressuring regional economies to appreciate their currencies against the US dollar. In South Korea, recent data showed that the annual inflation rate remained steady in April 2025. This follows the Bank of Korea's decision to maintain its policy rate, balancing inflation control with fostering economic growth. Preliminary figures indicated that April saw a significant trade surplus, with exports unexpectedly climbing despite reduced shipments to the US due to hefty tariffs, and imports falling less than anticipated. However, the manufacturing sector shows signs of continued trouble. The manufacturing PMI fell to 47.5 in April from 49.1 in March, marking the third straight month of contraction and registering the sharpest decline since September 2022.