KRW/USD Rises to 1,482 on July 17 as Tech Selloff Triggers Risk-Off Sentiment

According to Yonhapinfomax, the Korean won weakened to 1,482.00 against the U.S. dollar on July 17 morning as a selloff in semiconductor stocks intensified risk-off sentiment. The won lost 1.60 from the previous Seoul close of 1,480.40, though it recovered 5.00 from 24 hours earlier. SK Haixi's U.S. ADR plummeted 13.69%, while the Philadelphia Semiconductor Index fell 4.29%. U.S. markets declined across the board: the Nasdaq Composite dropped 1.47%, the S&P 500 fell 0.51%, and the Dow Jones Industrial Average declined 0.20%.

Geopolitical tensions escalated as the U.S. military initiated its sixth consecutive round of airstrikes against Iran on July 16 local time, according to U.S. Central Command, targeting Iran's military capabilities in Hormozgan Province.