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South Korea's won has rebounded from a 13-year low to become Asia's best-performing currency, rising about 6% against the dollar this month. Expectations of smaller US rate increases and China's pivot away from Covid Zero have supported the currency.
Lower oil prices from this year's highs may also narrow South Korea's trade deficit.
A stronger won lowers the local cost of dollar-priced imports, including feed ingredients and energy, which eases import costs for Korean feed buyers. The currency move has little direct effect on global grain prices.
bloomberg.comHooyeon KimNov 20, 2022Not enough comparable past events yet for a historical read.
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.
