# Korea won sees largest drop in 1 month on hawkish Powell - KED Global

> 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.

- Date: 2023-03-08 · published 2023-03-08T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/37104-korea-won-sees-largest-drop-in-1-month-on-hawkish-powell-ked-global
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bullish ▲
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-02-17 | [S.Korean won near 2-month low as US data fans Fed hike views - KED Global](https://feedsoft.ai/events/37544-s-korean-won-near-2-month-low-as-us-data-fans-fed-hike-views-ked-global.md) | +0.9% | +0.9% |
| DXY | 2024-12-19 | [South Korean won hits 15-year low as hawkish Fed, domestic politics weigh](https://feedsoft.ai/events/27186-south-korean-won-hits-15-year-low-as-hawkish-fed-domestic-politics-weigh.md) | +0.5% | +1.4% |
| DXY | 2022-10-01 | [Korean Won Slides Most in Three Months as Dollar Jumps on US CPI](https://feedsoft.ai/events/39826-korean-won-slides-most-in-three-months-as-dollar-jumps-on-us-cpi.md) | -0.2% | +0.1% |
| DXY | 2026-06-19 | [Dollar index hits 13-month high on hawkish Fed, shaky Middle East outlook](https://feedsoft.ai/events/11519-dollar-index-hits-13-month-high-on-hawkish-fed-shaky-middle-east-outlook.md) | +0.4% | +0.1% |
| DXY | 2025-10-31 | [Dollar Has Second Best Month of 2025 on Data Void, Hawkish Fed - Bloomberg](https://feedsoft.ai/events/22614-dollar-has-second-best-month-of-2025-on-data-void-hawkish-fed-bloomberg.md) | +0.3% | -0.2% |

## Sources

- kedglobal.com: https://www.kedglobal.com/foreign-exchange/newsView/ked202303080022

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