The South Korean won fell to around 1,410 per dollar on Monday, marking its third straight session of losses, pressured by broad US dollar strength and regional currency softness. Investors assessed the impact of the US government shutdown, which halted key federal programs and delayed major data releases, including September’s jobs report. Safe-haven demand for US assets persisted, while markets priced in Federal Reserve rate cuts, with one expected this month and another in December. Separately, the won was also weighed by weakness in regional peers, particularly the yen, which fell following Japan’s political developments that positioned a pro-stimulus, fiscally dovish lawmaker as prime minister. On the domestic front, market participants remained attentive to US–Korea trade discussions, with last week’s statement reaffirming FX intervention limits contributing to cautious sentiment.