# Bank of Korea flags risk of stronger downward pressure on won

> The Bank of Korea warned that the won faces stronger downward pressure. It cited expectations of fewer U.S. rate cuts, Middle East geopolitical conflict, and weakness in the Japanese yen and Chinese yuan.

- Date: 2024-06-26 · published 2024-06-26T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/30014-bank-of-korea-flags-risk-of-stronger-downward-pressure-on-won
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A weaker won raises the local-currency cost of dollar-priced grain and meal imports for South Korean feed buyers, which can lift their landed costs.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/bank-korea-flags-risk-stronger-downward-pressure-won-2024-06-26/

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