The South Korean won rose to around 1,443 per dollar, extending gains from the previous session as broad dollar softness lifted regional currencies including the won. The greenback weakened after a ruling by the US Supreme Court limited President Donald Trump’s use of emergency tariff powers, heightening policy uncertainty and raising the prospect of tariff refunds. Additionally, the won benefited from strong semiconductor-linked momentum and record equity gains in major exporters, reinforcing expectations of sustained export inflows. However, the currency’s upside remained capped after President Trump announced new global tariffs, including a 15% levy that broadly aligns with previously discussed rates. Investors continued to monitor the risk of potential sector-specific measures targeting autos or semiconductors, which could pose downside risks to Korea’s trade surplus and capital flows.
