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The Korean won has lost about 7% against the dollar since the start of the year, after the Bank of Korea halted rate increases. The Federal Reserve has raised rates four times this year, leaving US rates about 2 percentage points above South Korean levels.
That gap has put persistent pressure on the won.
A persistently weaker won raises the local cost of dollar-priced feed imports, and the widening rate gap sustains dollar strength that can weigh on commodity prices.
wsj.comFrances YoonOct 23, 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.
