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South Korea's foreign exchange reserves fell for a second month in September to $414.12 billion, down $4.18 billion. Authorities intervened in the currency market to counter won weakness, which fell 2.04% against the dollar in September.
The US dollar index rose 2.46% over the same month.
Currency intervention to defend the won signals persistent pressure on Korean import costs, and a rising dollar index tends to weigh on dollar-priced commodity values.
reuters.comOct 5, 2023Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
