The won-dollar exchange rate and the benchmark KOSPI is displayed at a dealing room in Hana Bank in Seoul, Friday. Yonhap
The Korean won strengthened sharply against the U.S. dollar on Friday as U.S. President Donald Trump said a peace agreement with Iran could be signed as soon as this weekend.
The won opened at 1,518 won per dollar, up 10.9 won from the previous session, marking the highest opening price since June 2.
However, the local currency trimmed some gains and was quoted at 1,518.5 won per dollar as of 10:14 a.m.
Trump has said a peace deal with Iran is in "pretty final shape" and, if finalized, it would reopen the Strait of Hormuz, a key shipping route for oil, fertilizer and other commodities.
