FX.co ★ South Korean Won Edges Lower

The South Korean won experienced a slight decline, trading at approximately 1,465 per dollar, erasing gains from the prior session. This change was influenced by the uncertainty surrounding the impending implementation of US reciprocal tariffs. Financial markets remained on edge in anticipation of the tariffs announced by US President Trump, scheduled to come into effect on April 2. Although these tariffs are expected to be more selective and restrained compared to previous ones, they represent an escalation of trade conflicts. On the domestic front, investor sentiment was dampened by political concerns arising from the expected court decision on President Yoon Suk Yeol's impeachment. Nonetheless, the export-driven currency found some relief after the Trade Ministry, along with associated bodies, introduced a comprehensive support package on Wednesday. This package includes emergency tariff measures, strategic business consultations, and a record trade financing scheme totaling 366 trillion won to assist companies in coping with protectionist challenges.