S. Korean currency rises amid hopes for Strait of Hormuz reopening

The South Korean won strengthened against the US dollar Friday, rebounding from a steep decline in the previous session, as talks on reopening the Strait of Hormuz showed signs of progress amid a prolonged conflict in the Middle East. The won opened at 1,510.8 per dollar, up 8.9 won from the previous session. Investors remained jittery about escalating tensions in the Middle East after US President Donald Trump said during a prime-time address on Wednesday that the United States would hit Iran