# Ahead of the Monetary Policy Committee Meeting, Won-Dollar Exchange Rate Enters 1,200-Won Range: Future Outlook - The Asia Business Daily

> The won-dollar rate closed at 1,293.7 on July 11, down 12.8 won and at its lowest in 13 sessions. The decline followed expectations of slowing US inflation ahead of the June CPI release and lower Treasury yields.

- Date: 2023-07-11 · published 2023-07-11T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/35282-ahead-of-the-monetary-policy-committee-meeting-won-dollar-exchange-rate-enters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A firmer won and a weaker dollar on expectations of an end to US hikes lower the local-currency cost of imported feed ingredients for Korean buyers.

## Read by commodity

- DXY: bearish ▼
- USDKRW: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-12-26 | ["Settling Around 1,200 Won?" Won-Dollar Exchange Rate Enters Stabilization Phase... Is the King Dollar Era Ending? - The Asia Business Daily](https://feedsoft.ai/events/32963-settling-around-1-200-won-won-dollar-exchange-rate-enters-stabilization-phase.md) | +0.2% | +1.2% |
| DXY | 2024-08-27 | [Digesting the 'Jackson Hole Effect'... Won-Dollar Exchange Rate Hits 1,320 Level for the First Time in 5 Months - The Asia Business Daily](https://feedsoft.ai/events/29037-digesting-the-jackson-hole-effect-won-dollar-exchange-rate-hits-1-320-level-for.md) | +0.9% | -0.5% |
| DXY | 2024-09-27 | [Lowest KRW-USD Exchange Rate in 6 Months... How Far Will It Fall? - The Asia Business Daily](https://feedsoft.ai/events/28546-lowest-krw-usd-exchange-rate-in-6-months-how-far-will-it-fall-the-asia-business.md) | +0.9% | +2.9% |
| DXY | 2025-06-26 | [Is the era of a weak dollar coming... KRW-USD exchange rate falls to the 1,350 won range](https://feedsoft.ai/events/24449-is-the-era-of-a-weak-dollar-coming-krw-usd-exchange-rate-falls-to-the-1-350-won.md) | -0.9% | -0.6% |
| DXY | 2017-12-13 | [Gold jumps 1% as dollar slips on Fed rate outlook - The Business Times](https://feedsoft.ai/events/67390-gold-jumps-1-as-dollar-slips-on-fed-rate-outlook-the-business-times.md) | -0.4% | -1.8% |

## Sources

- asiae.co.kr: https://www.asiae.co.kr/en/article/2023071118034816939

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.