The South Korean won traded around 1,346 per dollar, easing slightly but remaining near a two-year high, as surging oil prices lifted demand for the US dollar. Brent crude climbed above $107 per barrel amid escalating US-Iran tensions, raising concerns over higher energy import costs. Additionally, the US 10-year Treasury yield approached 5% as markets raised bets on a Fed rate hike next week following stronger US producer inflation, keeping the dollar elevated ahead of the US CPI report. At the same time, South Korea’s inflation remained above the BOK’s target, with consumer prices rising 3.1% year-on-year in August, while the central bank indicated that the timing and pace of further rate hikes will depend on domestic and external conditions. Meanwhile, exports surged 82.9% year-on-year in the first 10 days of September, with semiconductor shipments jumping 270%, highlighting the strength of Korea’s external trade.