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The won-dollar exchange rate has been trading around the 1,300 level near year-end, after hitting a 2023 high of 1,363.5 in the third quarter. The won rose sharply after Fed Chair Powell hinted at rate cuts, and analysts expect continued downward pressure on the dollar into 2024 due to year-end dollar selling and US economic slowdown signs.
A weaker dollar against the won tends to support Korean import purchasing power for feed ingredients priced in dollars, while a firmer dollar raises local feed costs.
asiae.co.krPark EugenieDec 26, 2023Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
