USD/KRW Falls to 1,424.80, Down 7.70 on August 5 Amid Bessent's Hawkish Signals

According to Yonhap Infomax, the USD/KRW exchange rate fell to 1,424.80 on August 5 at 8:35 p.m., declining 7.70 won from the previous close. U.S. Treasury Secretary Scott Bessent's remarks supporting currency stability and expectations of a Hormuz Strait opening agreement contributed to the won's strength. Bessent stated that if the yen weakens significantly, other currencies will follow, and noted concerns over excessive volatility in the Korean won.
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