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The Korean won opened at 1,317.7 per dollar on September 27, down 9.5 won from the prior session and at its lowest level since March. The move followed the Federal Reserve's 50 basis point cut and China's economic stimulus measures, which weakened the dollar; the dollar index hit its lowest level this year.
A stronger won lowers the local-currency cost of dollar-priced feed imports for Korea, supporting purchasing power for corn, soybean meal and other feed ingredients. The dollar weakness is also broadly supportive for dollar-denominated grain prices.
asiae.co.krLee ChanghwanSep 27, 2024Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
