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The South Korean won fell below 1,420 per US dollar intraday on Monday for the first time since 2009 as the dollar rallied after the Fed's third straight 75 basis point hike. KOSPI fell about 2.6% and foreigners sold local stocks amid recession fears.
A weaker won raises the local-currency cost of imported feed grains and meal, and Korea is a major importer, so it can cut demand appetite for US and other feed ingredients in dollar terms.
en.yna.co.krKim Soo-yeonSep 26, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
