# Bank of Korea chief says won volatility a little 'excessive'

> 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.

- Date: 2024-04-17 · published 2024-04-17T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/30982-bank-of-korea-chief-says-won-volatility-a-little-excessive
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bullish ▲
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-08-30 | [Bank of Korea warns of more market volatility ahead as Fed signals more rate hikes](https://feedsoft.ai/events/40279-bank-of-korea-warns-of-more-market-volatility-ahead-as-fed-signals-more-rate.md) | +1.1% | +4.0% |
| DXY | 2024-10-28 | [South Korea vows to fight volatility after won hits three-month low - The Business Times](https://feedsoft.ai/events/28101-south-korea-vows-to-fight-volatility-after-won-hits-three-month-low-the.md) | +0.2% | +1.9% |
| DXY | 2017-02-02 | [Bank of England Says Inflation’s OK, Pound Tumbles - WSJ](https://feedsoft.ai/events/72733-bank-of-england-says-inflation-s-ok-pound-tumbles-wsj.md) | -0.2% | +0.4% |
| DXY | 2022-09-26 | [Indonesia central bank remains in foreign-exchange market to prevent excessive rupiah fall, official says](https://feedsoft.ai/events/39901-indonesia-central-bank-remains-in-foreign-exchange-market-to-prevent-excessive.md) | +0.2% | +0.6% |
| DXY | 2018-06-27 | [Top currency forecaster says Korea’s won vulnerable to trade war](https://feedsoft.ai/events/64743-top-currency-forecaster-says-korea-s-won-vulnerable-to-trade-war.md) | +0.0% | -0.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/04/17/bank-of-korea-chief-says-won-volatility-a-little-excessive-.html

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