The won traded in a narrow band around 1,380 per dollar in Seoul on August 28, staying close to the previous day's daytime-session close as traders avoided large positions before Federal Reserve Chair Kevin Warsh's Jackson Hole speech. The currency was supported by the Bank of Korea's relatively hawkish stance, while higher global oil prices after comments on Iran by President Donald Trump renewed pressure for dollar strength. Markets are watching Warsh's first Jackson Hole keynote since taking office for signals on the future path of US interest rates. Traders largely expect him to emphasize monitoring inflation and economic conditions rather than immediately signal a clear policy direction, which could keep the won-dollar exchange rate in the 1,380s until the speech.