South Korean won approaches strongest level since October 2024
Updated
Summary
The won traded around 1,333 per dollar, recovering losses and approaching its strongest level since October 2024.
Why it matters
An easing semiconductor sell-off and renewed risk appetite lifted the won; foreign investors bought KRW 343.5 billion of South Korean equities.
Declines in US Treasury yields and the dollar also supported the won.
What remains uncertain
Federal Reserve Chair Kevin Warsh gave no clear signal on a rate hike this month, while strong US data and inflation concerns reinforced bets on a December hike.