The South Korean won hovered around 1,421 per dollar on Monday, showing little change from the previous session as a steady greenback tempered optimism over progress in US–Korea tariff talks. The dollar held firm amid easing US–China trade tensions, as officials in Washington and Beijing sought to ease tariff risks ahead of upcoming meetings, while markets awaited the delayed US inflation report due Friday and the Federal Reserve’s expected rate cut next week. Domestically, the presidential chief of staff for policy, Kim Yong-beom, said the government had made substantive progress in ongoing trade negotiations with Washington, which lifted sentiment toward Korean exports and broader trade conditions. Looking ahead, traders are also watching the Bank of Korea’s policy meeting on Thursday for signals on interest rate direction and its assessment of external risks to the currency.
