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21.04.202501:31:00UTC+00SK Won Gains on US-South Korea Trade Talk

The South Korean won strengthened to approximately 1,420 per dollar on Monday, showing a recovery from the previous week's losses as investor confidence grew ahead of the upcoming US–South Korea tariff discussions. These talks are set to occur alongside the IMF and World Bank spring meetings, where South Korean Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun will engage with US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent. The discussions aim to address South Korea's efforts to lower the 25% reciprocal tariff initially imposed by US President Trump, which, while currently paused, remains a concern. Additionally, the won's appreciation was bolstered by a weaker US dollar, influenced by President Trump’s recent criticisms of Fed Chair Jerome Powell and his calls for interest rate cuts.

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