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Bank of Korea Governor Rhee Chang-yong said recent won moves are a little excessive relative to fundamentals and that the central bank will intervene if needed. He attributed the weakness to the strong dollar, Middle East tensions and weakness in the yen and yuan.
The won had breached 1,400 per dollar before rebounding to about 1,382.6.
Central bank intervention could steady the won and ease the local cost of dollar-priced feed imports. The strong dollar remains the main pressure on Asian feed purchasing power.
cnbc.comSumathi BalaApr 17, 2024Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
