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The Korea Capital Market Institute says the US dollar, the main driver of the won's rise over two years, is nearing a turning point as the Fed prepares to cut rates. It expects a gradual won appreciation, with the Japanese yen's gains possibly accelerating the decline in the won-dollar rate.
A gradual decline in the won-dollar rate would lower Korean feed import costs over time. Feed buyers should watch the currency path, though the effect on grain prices is modest and gradual.
kcmi.re.krSep 24, 2024Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) 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.
