# Won drops to 2023 lows on renewed inflation concerns

> The Korean won fell to 2023 lows, trading above 1,320 per dollar, after January US PCE inflation rose 0.6% monthly, above the 0.5% expected, with core PCE also up 0.6% versus 0.4% expected. Renewed inflation worries reinforced expectations of further Federal Reserve rate hikes and pushed funds into the dollar.

- Date: 2023-02-27 · published 2023-02-27T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/37543-won-drops-to-2023-lows-on-renewed-inflation-concerns
- 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 stronger dollar on expected Fed tightening makes dollar-priced feed imports costlier for Korean buyers and tends to weigh on dollar-denominated grain and meal prices in local terms.

## Read by commodity

- DXY: bullish ▲
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-05-19 | [Treasury yields, dollar weigh on gold amid inflation concerns](https://feedsoft.ai/events/19168-treasury-yields-dollar-weigh-on-gold-amid-inflation-concerns.md) | +0.1% | +0.2% |
| DXY | 2023-05-31 | [German inflation drops to lowest level in more than a year](https://feedsoft.ai/events/36151-german-inflation-drops-to-lowest-level-in-more-than-a-year.md) | -0.5% | -1.0% |
| DXY | 2021-05-26 | [Equities, dollar rise as Fed officials downplay inflation concerns](https://feedsoft.ai/events/47004-equities-dollar-rise-as-fed-officials-downplay-inflation-concerns.md) | -0.2% | +1.4% |
| DXY | 2024-03-15 | [DXY gains on inflation risks as FOMC looms \| Convera](https://feedsoft.ai/events/31470-dxy-gains-on-inflation-risks-as-fomc-looms-convera.md) | +0.5% | +1.1% |
| DXY | 2021-11-11 | [Hot U.S. inflation drives dollar to 2021 peaks \| Reuters](https://feedsoft.ai/events/44245-hot-u-s-inflation-drives-dollar-to-2021-peaks-reuters.md) | +0.8% | +1.2% |

## Sources

- koreajoongangdaily.com: https://www.koreajoongangdaily.com/business/won-drops-to-2023-lows-on-renewed-inflation-concerns/11136642

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