South Korean Won Remains Under Pressure

2026-04-23 03:27 By Erika Ordonez 1 min. read

The South Korean won traded near 1,480 per dollar, remaining under pressure as a firm US dollar and broad risk-off sentiment continued to weigh on Asian currencies.

Sentiment remained fragile amid geopolitical tensions in the Middle East, where disruptions in the Strait of Hormuz following vessel seizures and increased US naval activity continued to raise concerns over potential energy supply risks.

Elevated oil prices are reinforcing global inflation worries, which in turn support the dollar through tighter financial conditions and stronger safe-haven demand.

At the same time, foreign flows into Korean equities showed signs of softness, with investors trimming exposure after recent gains in large-cap technology names, limiting support for the won.

Still, South Korea’s economy expanded 1.7% in the first quarter of 2026, the fastest in more than five years, driven by strong semiconductor exports and investment, though this offered limited offset to currency weakness.



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