The South Korean won hovered around 1,397 per dollar on Thursday, showing little movement after recent weakness as broader dollar strength dominated sentiment. The currency tracked the steady dollar, with investors bracing for Fed Chair Powell’s speech at Jackson Hole, seeking clarity on the pace of potential policy easing. Market odds for a September rate cut remain high but have eased back in recent days as the Fed emphasized persistent inflation concerns over labor market softness, while tariffs continued to deepen divisions within the committee. At the same time, renewed dollar demand was linked to a tech-led selloff on Wall Street which underpinned safe-haven flows into the greenback. Domestically, traders largely stayed on the sidelines, with caution lingering as equity-based funds recorded sizable outflows in recent sessions, signaling risk aversion as traders await global policy cues and regional events.
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