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The won eased slightly against the dollar after the Bank of Korea held its base rate at 3.5% for a seventh straight meeting. The central bank said rates must stay higher for longer to curb persistent inflation, and it revised its 2024 growth forecast down to 2.1%.
The won had gained about 4.2% against the dollar in November.
Higher-for-longer Korean rates support the won, which lowers the cost of imported feed. A hawkish hold with stronger inflation forecasts keeps domestic feed and food price pressure elevated.
tradingpedia.comMiroslav MarinoffNov 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.
