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South Korean Won Strengthens to 1,424.5 per Dollar as U.S. Backs Japan's Yen Defense on August 5

2026-08-05 11:43:42

According to Seoul Econ, the South Korean won strengthened to 1,424.5 per U.S. dollar on August 5, falling 8.0 won from the previous day's close, as U.S. Treasury Secretary Scott Bessent signaled support for Japan's defense of the weakening yen. Bessent stated on CNBC that the U.S. would do "whatever is needed" to support Japan in a manner beneficial to the U.S. economy and global stability, while noting concerns about excessive volatility in the Korean won. The won's gains were also supported by foreign investor net purchases of 1.46 trillion won in South Korea's stock market.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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