FX.co ★ South Korean Won Rises for 3rd Day

The South Korean won appreciated to approximately 1,430 per dollar, marking its third consecutive session of gains and reaching a one-week high, spurred by optimism surrounding the reduction of automotive tariffs. U.S. President Trump signed an executive order on Tuesday that eased tariffs on automotive imports, including those affecting steel and aluminum, to lower the overall tariff burden. Concurrently, South Korea's Finance Ministry indicated that it is not hastening a trade agreement with the U.S. ahead of its June 3 election, underscoring the importance of procedural integrity and alignment with its political schedule despite rumors of a potential pre-election deal. Market participants also assessed recent economic indicators, noting an increase in industrial production in March for the second month in a row, bolstered by robust semiconductor output. However, retail sales declined, reflecting weaker consumer spending. Traders are now anticipating further significant economic data releases this week, including trade balance, PMI, and inflation figures.