The Korean won weakened for the first time in five sessions, closing at 1,345.6 per dollar in Seoul on the 8th, down 5.1 won from the previous session's 3:30 p.m. reference rate. The currency initially strengthened to 1,336.3 around 11 a.m. after opening at 1,344.4, but rising oil prices increased importers' demand for dollars and encouraged bargain hunting after the won's recent appreciation. West Texas Intermediate crude for October delivery rose above $94 a barrel, its highest level in three months, as tensions escalated after the United States and Iran traded attacks involving warships and oil tankers near the Strait of Hormuz. The dollar also drew support from reports that the National Pension Service had suspended currency hedging. The won's decline was limited by a stronger yen, continued dollar sales from semiconductor companies and expectations that the Bank of Japan will raise interest rates next week. The yen briefly reached 152.892 per dollar, its strongest level since February this year, after stronger Japanese economic data, including an upward revision to second-quarter real GDP growth, a July current-account surplus above market forecasts and July nominal wage growth at its highest since 1997. Japanese Finance Minister Satsuki Katayama said there had been no change in the coordinated U.S.-Japan intervention policy regarding recent currency moves. Market participants said expectations for a BOJ rate increase and Tokyo's commitment to defending the yen had prompted investors to unwind accumulated short positions. Because the yen and won often move together in global currency markets, the yen's strength helped restrain the won's losses. Separately, Bank of Korea data showed nominal gross national income rose 8.8% in the second quarter from the previous quarter. The central bank said per capita GNI is highly likely to exceed $40,000 this year if there are no unexpected shocks and the exchange rate remains stable through year-end, potentially bringing forward a milestone previously expected around 2028 on the back of a stronger won and a semiconductor boom.