# Digesting the 'Jackson Hole Effect'... Won-Dollar Exchange Rate Hits 1,320 Level for the First Time in 5 Months - The Asia Business Daily

> 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.

- Date: 2024-08-27 · published 2024-08-27T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/29037-digesting-the-jackson-hole-effect-won-dollar-exchange-rate-hits-1-320-level-for
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bearish ▼
- USDKRW: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-09-27 | [Lowest KRW-USD Exchange Rate in 6 Months... How Far Will It Fall? - The Asia Business Daily](https://feedsoft.ai/events/28546-lowest-krw-usd-exchange-rate-in-6-months-how-far-will-it-fall-the-asia-business.md) | +0.9% | +2.9% |
| DXY | 2023-07-11 | [Ahead of the Monetary Policy Committee Meeting, Won-Dollar Exchange Rate Enters 1,200-Won Range: Future Outlook - The Asia Business Daily](https://feedsoft.ai/events/35282-ahead-of-the-monetary-policy-committee-meeting-won-dollar-exchange-rate-enters.md) | -1.5% | +0.1% |
| DXY | 2023-12-26 | ["Settling Around 1,200 Won?" Won-Dollar Exchange Rate Enters Stabilization Phase... Is the King Dollar Era Ending? - The Asia Business Daily](https://feedsoft.ai/events/32963-settling-around-1-200-won-won-dollar-exchange-rate-enters-stabilization-phase.md) | +0.2% | +1.2% |
| DXY | 2024-05-16 | [Revived US September Rate Cut Expectations... Exchange Rate Opens at 1350 Won Level (Update) - The Asia Business Daily](https://feedsoft.ai/events/30501-revived-us-september-rate-cut-expectations-exchange-rate-opens-at-1350-won.md) | +0.2% | +2.2% |
| DXY | 2025-03-18 | [Rand hits best level in months as dollar suffers Trump slump \| News24](https://feedsoft.ai/events/25856-rand-hits-best-level-in-months-as-dollar-suffers-trump-slump-news24.md) | +0.7% | -1.4% |

## Sources

- asiae.co.kr: https://www.asiae.co.kr/en/article/2024082709252610810

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.