The USD/KRW exchange rate recently traded near 1,342 as of October 9, 2026, after strengthening toward multi-month lows near 1,337 amid robust South Korean export performance and a record current-account surplus of $46.1 billion in August. Persistent U.S. monetary policy uncertainty, with Fed minutes signaling potential further rate hikes and 10-year Treasury yields holding near 5.3%, continues to underpin dollar demand, while elevated oil prices near $104 per barrel raise imported inflation risks for energy-dependent Korea. A widening Korea-U.S. rate differential and foreign equity selling have also limited won gains. Traders are monitoring upcoming FOMC communications, Bank of Korea policy decisions, and September-October export and inflation data for shifts in the rate path through year-end.