The South Korean won traded around 1,374 per dollar, its strongest level since July 2025, as major exporters continued selling dollars. Month-end flows and strong semiconductor-led export growth supported the currency, with August shipments forecast to rise more than 60% year-on-year and the trade surplus expected to exceed $30 billion. The won has gained roughly 5% against the dollar in August. The Bank of Korea's back-to-back rate hikes lifted its policy rate to 3%, while the central bank raised its 2026 growth forecast to 3.3% on stronger semiconductor exports and domestic demand. The currency's advance faced pressure from Federal Reserve Chair Kevin Warsh's hawkish comments, which reinforced expectations for a September rate hike and supported the dollar and U.S. Treasury yields. Renewed U.S.-Iran tensions also pushed oil prices higher, adding to inflation and risk concerns.