22.08.202502:14:13UTC+00South Korean Won Steady, Jackson Hole in Focus

The South Korean won maintained a stable position near 1,398 per dollar on Friday, continuing its limited movement for the second consecutive session. Investors are closely monitoring Federal Reserve Chair Jerome Powell's anticipated speech at Jackson Hole, which could provide insights into the timing of US interest rate reductions, while also assessing mixed signals from the domestic economy. The markets are seeking guidance on potential policy easing following weak labor data and ongoing inflation concerns. The South Korean economy faces pressure due to its substantial energy import requirements. August data revealed an eight-month high in Asian LNG shipments from the United States, increasing dollar demand for fuel payments and raising concerns about Korea's trade balance as winter approaches. However, trade data provided some positive news, with exports rising by 7.6% in the first 20 days of August, driven by strong demand for semiconductors and automobiles. This growth outpaced a modest 0.4% increase in imports, resulting in a provisional trade surplus of $800 million.