FX.co ★ South Korean Won Firms as Authorities Signal Support

The South Korean won experienced a slight appreciation to approximately 1,435 against the dollar on Friday. This development transpired following a statement from the finance ministry indicating its readiness to implement measures aimed at market stabilization. The announcement ensued after a meeting between Finance Minister Koo Yun-cheol, Bank of Korea Governor Rhee Chang Yong, and other financial regulators, addressing the won's decline to a six-month low earlier in the week. Concurrently, investors kept a close watch on the dynamics of high-level trade discussions with the United States, ahead of the upcoming APEC summit in Gyeongju. During this summit, Presidents Lee Jae Myung and Donald Trump are anticipated to deliberate on the USD 350 billion investment commitment. Despite these developments, the US dollar maintained its strength, bolstered by expectations of a potential Federal Reserve rate cut in the coming week and the ongoing uncertainty over the US government shutdown.