FX.co ★ South Korean Won Rises on Weaker Dollar

The South Korean won appreciated to approximately 1,365 against the dollar on Tuesday, reversing losses from the previous session as the dollar weakened following President Trump's announcement of an incremental ceasefire arrangement between Iran and Israel. These two nations have reportedly reached a preliminary agreement aimed at concluding their 12-day conflict, contingent upon both parties refraining from resuming hostilities. Moreover, oil prices declined after the ceasefire announcement, bolstering the market by alleviating concerns over rising costs and easing fears of supply chain disruptions. Domestically, South Korea's composite consumer sentiment index surged to 108.7 in June, up from 101.8 in the prior month, driven by improvements across all major index components, including living standards, household income, and the domestic economy.