The South Korean won strengthened to its highest level in about a month on Tuesday, closing at 1,481.2 per dollar — its strongest since mid-March — as expectations grew that the United States and Iran may resume nuclear negotiations. Reports emerged that both sides signalled willingness to continue talks after a weekend round in Islamabad ended without a breakthrough, prompting US President Donald Trump to order a blockade of the Strait of Hormuz (a critical waterway through which a large share of global oil passes), though he also said Iranian officials had reached out seeking a deal. The prospect of renewed diplomacy pushed global oil prices below $100 a barrel, easing pressure on the won, which had been volatile in recent weeks as South Korea — heavily dependent on energy imports — is particularly exposed to oil price swings.