South Korean won depreciates amid Middle East supply risk concerns

The US-Iran conflict has significantly escalated, marked by US retaliatory strikes in Iran following Houthi maritime blockades and Iranian warnings against US action on its nuclear infrastructure. Iran's explicit categorization of strikes on nuclear facilities as an act of war, coupled with reports of subterranean nuclear activity, indicates a heightened risk of direct military confrontation. The conflict's fiscal impact on the US is substantial, and regional supply chain disruptions are increasing.