The South Korean won appreciated to around 1,390 per dollar, rebounding from earlier losses as the dollar weakened after softer-than-expected US private-sector hiring data reinforced expectations of a Federal Reserve rate cut at the upcoming meeting. Sentiment was further supported by Vice Finance Minister Lee Hyoung-il, who said Seoul’s pledge to invest up to $350 billion in US strategic industries would be deployed gradually through state policy institutions on a case-by-case basis, rather than injected all at once — a clarification that provided greater policy visibility. Lee added that authorities are closely monitoring foreign exchange markets and stand ready to act to stabilize the won if needed, remarks that reassured investors about Korea’s policy discipline and lent additional support to the currency.
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