The South Korean won rose to around 1,383 per dollar on Tuesday, marking its second consecutive session of gains as the dollar weakened ahead of the Federal Reserve’s September 16–17 policy meeting, where markets widely expect a 25-basis-point rate cut. Further bolstering investor sentiment, hopes for easing US–China tensions were lifted after Treasury Secretary Scott Bessent said negotiators had reached a framework for TikTok’s US operations during talks in Madrid, with confirmation expected in a call between Presidents Trump and Xi on Friday. While market participants caution that unresolved issues such as tariffs, data algorithms, and IP rights temper optimism, the prospect of reduced trade frictions boosted risk appetite in Asian markets.
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