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The won weakened toward 1,460 per dollar after Kevin Warsh was named as the next Federal Reserve chair, seen as less dovish than other candidates, which lifted the dollar. Foreign investors dumped Korean stocks as KOSPI fell over 5%.
Analysts cite the global reserve currency strength and risk sentiment.
A firmer dollar on hawkish Fed expectations tends to pressure dollar-priced commodities and raises Korean import costs, though the direct feed price effect is small.
koreatimes.co.krLee Kyung-minFeb 2, 2026After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
