Korean Won Up on Report US Wants Currency Appreciation in Talks

The South Korean won outperformed its Asian peers after local media reported the US demanded appreciation of the currency during trade talks between the two countries.

The currency rose as much as 0.8% to 1,378.30 per dollar on Wednesday after the Korea Economic Daily said the issue of foreign exchange will be on the table again when Finance Minister Koo Yun-cheol holds final trade talks with US Treasury Secretary Scott Bessent on Thursday. The newspaper didn’t identify where the information came from.