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The Korean won strengthened to around 1,320 per dollar, its weakest dollar level in five months, after Fed Chair Powell signaled a strong rate cut at Jackson Hole. The dollar index hit its lowest level of the year, and forecasts expect further won gains through year-end.
A weaker dollar and firmer won shift relative currency costs for Korean feed importers and can marginally support dollar-denominated grain prices, though the effect on feed commodities is indirect.
asiae.co.krPark JaehyunAug 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.
