The South Korean won strengthened to around 1,365 per dollar on Tuesday, recovering losses from the prior session as the dollar weakened in response to President Trump’s announcement of a phased ceasefire agreement between Iran and Israel.
The two countries reportedly reached a preliminary understanding aimed at ending their 12-day conflict, provided that neither side resumes hostilities. Additionally, oil prices fell following the ceasefire announcement, further strengthening the market by mitigating concerns over escalating costs and reducing apprehensions on supply chain disruptions. On the domestic front, the composite consumer sentiment index of South Korea rose sharply to 108.7 in June from a 101.8 level in the previous month as all key components of the index improved such as living standards, household income, and the domestic economy.
