The USD/KRW exchange rate closed at 1,475 won the previous day, rising 6 won due to payment demand, and upward pressure remains. Following comments from the U.S. Treasury Secretary last week, the won showed strength, but currently the dollar remains firm.

Initial leading candidate Hasset's prospects changed after comments from Trump, with a rising likelihood that BlackRock CIO Rick Rieder will be nominated. As the Senate approval process becomes more promising, competition for the appointment is intensifying, analysts say.

From February 1, tariffs of 10% will be imposed on eight European countries related to Greenland, with a threat to increase to 25% in June. French President Macron plans to pursue retaliatory measures against EU trade threats.

Vice Chair Bowman emphasized the need to prepare for continued rate cuts if labor market improvements are not observed, calling for cautious policy adjustments. She stated that policy coordination should depend on labor market trends and called for clear assessment of the situation.

European gas prices spiked 30% last week due to cold snaps, driven by increased heating demand and geopolitical risks. Gas stockpiles fell below 52%, well below the five-year average of 67%.