USD/KRW Falls Below 1,500 Won on July 10; Trump Signals Iran Talks Resume

According to Yonhap Infomax, USD/KRW 1-month contracts in New York's NDF market fell below 1,500 won on July 10 (NY time), closing at 1,498.20 won (MID). Bid was quoted at 1,498.00 won and ask at 1,498.40 won, down 1.95 won from Seoul's spot rate (1,501.40 won) on the previous trading day.

Won strength was supported by a weaker dollar-yen amid concerns over potential intervention after Japan's Finance Minister Katayama Satsuki encouraged expanded domestic investment of public pension funds. The dollar-yen fell to the 161 level, closing at 161.73 yen. Meanwhile, U.S. President Donald Trump stated on Truth Social that Iran had requested negotiations and the U.S. agreed, though he emphasized the ceasefire has ended. The dollar index initially spiked above 100.99 on oil price surge but later retreated as market focus shifted to dialogue prospects. EUR/USD closed at 1.1413.