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The won jumped as much as 2% to 1,324.90 per dollar after the Bank of Korea raised its policy rate and signaled further tightening. The currency has gained almost 8% this quarter, the biggest rise among major Asian currencies.
Gains followed Fed minutes that showed support for smaller US rate hikes.
A firmer won reduces the local cost of imported feed and energy inputs for Korean buyers. The move is driven by monetary policy and does not change global grain supply or demand.
businesstimes.com.sgNov 24, 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.
