The South Korean won slipped to around 1,380 per dollar on Monday, marking a pullback from the prior session’s gains, as investor sentiment turned wary over the potential retaliation from Iran following US airstrikes on Sunday. Investors sought safe-haven assets amid geopolitical unrest heightened by the US involvement as it targeted Fordow, Natanz, and Isfahan nuclear sites.
While American leaders urged Tehran to stand down, President Donald Trump further inflamed tensions by publicly suggesting the possibility of regime change in Iran. Adding to the downward pressure, the uncertainty over the second supplementary budget’s approval and implementation, submitted during the national assembly, prompted a cautious market response. The anticipated cash handouts and stimulus measures may take time to positively impact the economy.
