The South Korean won strengthened to around 1,356 per dollar on Friday, extending gains from the previous session as the dollar weakened amid expectations of a possible Federal Reserve leadership change between early September and late October, alongside growing investor focus on the upcoming July 9th deadline for a key trade agreement.
Notably, the won’s advance remained resilient despite recent news regarding South Korea’s economic outlook, with growth projected to remain subdued at around 1% from 0.8% earlier this month. In response, Lee Yong-jae, director of the Korea Center for International Finance (KCIF), noted on June 26 that the combined effects of these tariffs, policy uncertainties, and weak domestic demand are expected to slow global economic growth in the second half of 2025.
