FX.co ★ Korean Won Firms on Softer Dollar

The South Korean won strengthened to around 1,486 per dollar, halting its recent slide as the US dollar weakened for a third straight session. Investors remained cautious ahead of the Federal Reserve’s upcoming policy decision, focusing on how policymakers will respond to persistent global uncertainties, with markets broadly expecting interest rates to be held steady. The won also drew support from signs of improvement in South Korea’s labor market, as February employment rose by 234,000, lifting total jobs to 28.41 million, a 0.8% increase from a year earlier. At the same time, risk sentiment stayed fragile after Iran confirmed the killing of senior security official Ali Larijani in an airstrike, prompting Tehran to launch a series of missile and drone attacks on Israel and neighboring countries.