# Why Is the Korean Won Weak While the Japanese Yen Is Rising? - The Asia Business Daily

> The Japanese yen has strengthened against the dollar, falling from the 161 range in early July to the 153 range by July 29, while the Korean won has continued to weaken. The yen's rise is attributed to expectations of a Bank of Japan rate hike and possible FX intervention, alongside unwinding of yen carry trades.

- Date: 2024-07-29 · published 2024-07-29T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/29514-why-is-the-korean-won-weak-while-the-japanese-yen-is-rising-the-asia-business
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A firmer yen and weaker won shift the currency backdrop for feed buyers and Korean importers of US feed grains and meal, since a weak won raises the local-currency cost of dollar-priced commodities.

## Read by commodity

- USDJPY: bearish ▼
- USDKRW: bullish ▲

## Sources

- asiae.co.kr: https://www.asiae.co.kr/en/article/2024072910043417009

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