# Seoul shares down for 2nd day after Fed chief's remarks; won at over 5-month high - The Korea Herald

> 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.

- Date: 2024-08-26 · published 2024-08-26T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/29038-seoul-shares-down-for-2nd-day-after-fed-chief-s-remarks-won-at-over-5-month
- 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 stronger won reflects dollar weakness after Fed easing expectations, which lowers the local-currency cost of dollar-priced feed imports for Korean buyers.

## Read by commodity

- DXY: bearish ▼
- USDKRW: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-01-31 | [Korean won near 2-month high after BoK keeps rates to boost gr...](https://feedsoft.ai/events/73209-korean-won-near-2-month-high-after-bok-keeps-rates-to-boost-gr.md) | -0.6% | -0.6% |
| DXY | 2020-11-09 | [What strong won on back of Biden victory means for S. Korea - The Korea Herald](https://feedsoft.ai/events/50395-what-strong-won-on-back-of-biden-victory-means-for-s-korea-the-korea-herald.md) | -0.1% | -1.7% |
| DXY | 2018-12-05 | [Korea's FX reserves climb in Nov. - The Korea Herald](https://feedsoft.ai/events/61773-korea-s-fx-reserves-climb-in-nov-the-korea-herald.md) | +0.2% | -0.9% |
| DXY | 2019-01-30 | [U.S. Dollar Dives after Federal Reserve Moves to the Sidelines](https://feedsoft.ai/events/61290-u-s-dollar-dives-after-federal-reserve-moves-to-the-sidelines.md) | +0.0% | +0.2% |
| DXY | 2024-07-05 | [Gold prices rise to over one-month high after US jobs report](https://feedsoft.ai/events/29147-gold-prices-rise-to-over-one-month-high-after-us-jobs-report.md) | -0.8% | +0.1% |

## Sources

- koreaherald.com: https://www.koreaherald.com/article/3461919

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