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Most emerging Asian currencies were set to log monthly gains against the dollar as traders bet the Federal Reserve would cut rates earlier than expected. The South Korean won rose about 4.5% in November, its biggest monthly gain since last November, while the Taiwan dollar and Thai baht also gained.
The Indian rupee was the only major Asian loser.
A stronger won lowers the local-currency cost of imported feed ingredients such as corn, soymeal and DDGS for Korean buyers. Expectations of Fed cuts that weaken the dollar broadly ease import costs across the region.
brecorder.comReutersNov 30, 2023Not enough comparable past events yet for a historical read.
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.
