The South Korean won traded around 1,467.9 won to the U.S. dollar as of 3:30 p.m. (KST) on Thursday, registering a modest rise from around 1,465.6. According to market‐data flows, the currency reached intraday highs near the high 1,460s, continuing its trajectory toward levels last seen seven months ago.

Analysts cite the primary drivers of the won’s weakness as a combination of stronger U.S. dollar demand — linked to hawkish expectations for the Federal Reserve — and the sharp depreciation of the Japanese yen. Meanwhile, the Bank of Korea (BOK) in its October policy summarynoted that the won’s recent