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The Korean won strengthened to 1,237.2 per dollar on May 31, up about 4.2% from May 12 when it hit a two-year low of 1,291.50. Signs that US inflation has peaked and China's lifting of the Shanghai lockdown supported the currency.
A firmer won and easing US rate expectations reduce the local cost of dollar-priced feed imports into Korea, while China's reopening may lift regional feed and commodity demand.
koreajoongangdaily.comJIN MIN-JIMay 31, 2022Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
