The South Korean won fell to around 1,394 per dollar on Wednesday, extending losses from the previous session as investors turned cautious over trade and monetary policy signals. President Lee Jae Myung, in a meeting with US Congress members in New York on Tuesday, warned that ongoing tariff negotiations with Washington were unsettling the foreign exchange market. He added that the uncertainty was raising concerns about Korea’s trade outlook and potential strains on reserves. The remarks came as consumer sentiment fell for the first time in six months in September, underscoring the economic risks of prolonged instability. On the global front, the greenback strengthened, finding support after Federal Reserve Chair Jerome Powell reiterated that future US rate cuts would be gradual and dependent on incoming data, cooling hopes for aggressive easing. Looking ahead, markets await Friday’s US PCE inflation for Fed policy signals and Thursday’s South Korean business confidence.
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