# Revived US September Rate Cut Expectations... Exchange Rate Opens at 1350 Won Level (Update) - The Asia Business Daily

> The won opened at 1,353.8 per dollar on May 16, its strongest level in 37 days, as expectations for a September US rate cut rose after softer April CPI data. US equity indices closed at record highs the prior day.

- Date: 2024-05-16 · published 2024-05-16T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/30501-revived-us-september-rate-cut-expectations-exchange-rate-opens-at-1350-won
- 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 firmer won and rising rate-cut hopes lower the local cost of dollar-priced feed imports, supporting Korean buyers' purchasing power.

## Read by commodity

- DXY: bearish ▼
- USDKRW: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2024-08-27 | [Digesting the 'Jackson Hole Effect'... Won-Dollar Exchange Rate Hits 1,320 Level for the First Time in 5 Months - The Asia Business Daily](https://feedsoft.ai/events/29037-digesting-the-jackson-hole-effect-won-dollar-exchange-rate-hits-1-320-level-for.md) | +0.9% | -0.5% |
| 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 | 2020-02-27 | [Dollar retreats as coronavirus fallout raises expectations of rate cut - The HinduBusinessLine](https://feedsoft.ai/events/54780-dollar-retreats-as-coronavirus-fallout-raises-expectations-of-rate-cut-the.md) | -0.5% | +6.3% |

## Sources

- asiae.co.kr: https://www.asiae.co.kr/en/article/2024051609490215776

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