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fxJun 4, 2026, 6:00 PM

Korean Won Slumps to Multi-Year Low on Energy Shock – BBH

Brown Brothers Harriman's Elias Haddad points to an energy shock driving sharp depreciation of the South Korean Won, with USD/KRW surging to its highest level in years.

USDKRW

Brown Brothers Harriman (BBH) analyst Elias Haddad notes that the South Korean Won is underperforming amid an energy shock. The USD/KRW pair has surged to its highest level since at least early 2023, reflecting a sharp depreciation of the won.

The weakness is attributed to Korea's heavy reliance on energy imports, which has intensified currency pressure as global energy prices remain elevated. The won has been one of the worst performers in Asia this year.

No specific intervention or policy response has been mentioned, but the trend underscores the vulnerability of energy-importing economies to commodity price spikes.

Source: FXStreet Forex News