# Korea won near 5-mth high as Powell signals slower hikes - KED Global

> The Korean won hit a near five-month high of 1,294.6 per dollar on December 1 after Fed Chair Powell signaled slower rate hikes. Government bond yields also fell as markets expected the BOK to moderate its tightening pace.

- Date: 2022-12-02 · published 2022-12-02T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/38454-korea-won-near-5-mth-high-as-powell-signals-slower-hikes-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 stronger won lowers the local-currency cost of dollar-denominated feed imports for Korean buyers. The move reflects shifting Fed expectations rather than a change in grain supply or demand.

## Read by commodity

- DXY: bearish ▼
- USDKRW: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-12-03 | [KRW strengthens to 2.5-year high as Korean stocks rally - KED Global](https://feedsoft.ai/events/49891-krw-strengthens-to-2-5-year-high-as-korean-stocks-rally-ked-global.md) | -0.5% | -1.2% |
| DXY | 2017-01-31 | [Korean won near 2-month high after BoK keeps rates to boost gr...](https://feedsoft.ai/events/73209-korean-won-near-2-month-high-after-bok-keeps-rates-to-boost-gr.md) | -0.6% | -0.6% |
| DXY | 2024-08-23 | [South African rand jumps as Fed's Powell signals lower rates](https://feedsoft.ai/events/29087-south-african-rand-jumps-as-fed-s-powell-signals-lower-rates.md) | -0.1% | -0.8% |
| DXY | 2018-08-24 | [Powell signals no need for speed when it comes to Fed rate hiking](https://feedsoft.ai/events/63461-powell-signals-no-need-for-speed-when-it-comes-to-fed-rate-hiking.md) | -0.0% | -0.5% |
| DXY | 2020-08-03 | [Why Korean won lacks luster, despite dollar’s weak trend - KED Global](https://feedsoft.ai/events/51852-why-korean-won-lacks-luster-despite-dollar-s-weak-trend-ked-global.md) | +0.4% | -1.1% |

## Sources

- kedglobal.com: https://www.kedglobal.com/foreign-exchange/newsView/ked202212010024

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