
The South Korean won strengthened to around 1,518 per dollar, recovering further after touching its weakest level since March 2009 near 1,560, as authorities and large institutional players stepped up dollar supply to stabilise the currency. State-run National Pension Service reportedly conducted FX hedging, boosting onshore dollar selling, while policymakers continued verbal warnings against excessive volatility and closely monitored market activity. Additional support came from improved risk sentiment after Israel and Iran agreed to a ceasefire, easing demand for safe-haven assets. Continued strength in semiconductor exports and an upward revision to first-quarter GDP growth to 1.8% further supported the won through improved growth and external balance expectations. However, gains were tempered by a firm US dollar as markets reassessed expectations for Federal Reserve easing amid resilient US economic data.

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