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The Korean won fell 1.7% to 1,321.4 per dollar on March 8, its largest daily decline since February 6, after Fed Chair Powell signaled rates could rise more than expected. The won has lost 4.3% against the dollar so far this year.
A weaker won and expectations of higher US rates raise Korea's dollar-denominated feed import costs, and a possible BOK hike would tighten domestic financing.
kedglobal.comDo-Won LimMar 8, 2023Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, DXY 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.
