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South Korean shares closed slightly lower for a second day on August 26 as investors took profits after Powell hinted at a rate cut next month. The won rose to its highest level in over five months against the dollar, closing near 1,320 per dollar.
A stronger won reflects dollar weakness after Fed easing expectations, which lowers the local-currency cost of dollar-priced feed imports for Korean buyers.
koreaherald.comYonhapAug 26, 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.
