13.10.202602:59:05UTC+00South Korean Won Retreats from 2-Year High

The South Korean won traded around 1,341 per dollar, pulling back after briefly touching its strongest level since October 2024, as a firmer US dollar and rising oil prices pressured the currency. The dollar index hovered near its highest reading since April 2025, supported by heightened geopolitical uncertainty and mounting concerns about renewed inflationary pressures.

Oil prices advanced for a third consecutive session after fresh attacks on Saudi Arabia followed a deadly strike on Riyadh’s airport. Ongoing Russian strikes also deepened doubts about the durability of the energy truce with Ukraine. Brent crude rose above USD 106 per barrel, stoking worries about South Korea’s energy import bill.

Investors are now awaiting September US CPI data, due later this week, for further insight into the Federal Reserve’s policy outlook. At the same time, continued dollar selling by local exporters—particularly semiconductor firms converting overseas earnings into won—helped limit the currency’s decline.