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The South Korean won swung sharply on Wednesday, hitting a 13-year intraday low of 1,352.3 per dollar before closing at 1,337.6. The dollar rallied on a hawkish Federal Reserve tone at Jackson Hole, and the won later recovered as the euro rebounded on talk of EU energy market intervention.
A weaker won raises the local cost of dollar-priced imports such as oil and feed, while a firmer dollar tends to pressure dollar-denominated grain and oilseed prices.
koreaherald.comChoi Si-youngAug 31, 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.
