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The won breached 1,480 per dollar intraday on December 27, the weakest regular-session level since March 2009, before closing at 1,467.50. The drop followed an impeachment motion against acting President Han Duck-soo and strong US jobs data.
The government pledged 11.6 trillion won in support spending.
Sharp won depreciation raises the cost of imported feed grains and meal for Korean buyers, while strong US data supports the dollar against other currencies.
koreajoongangdaily.comSHIN HA-NEEDec 27, 2024Not enough comparable past events yet for a historical read.
After 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.
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.
