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South Korea's finance minister Hong Nam-ki said the government will take measures to stabilize the foreign exchange market if needed, after the won fell to 1,265.20 per dollar, its weakest level in over two years. The won's slide reflected expectations of aggressive Fed tightening, China's COVID lockdowns and the Ukraine war.
A weaker won raises the local-currency cost of dollar-priced feed imports such as corn, soybean meal and wheat, which pressures Korean feed buyers. Intervention could cap the move, but the currency trend still favours higher import costs.
en.yna.co.krKim Soo-yeonApr 28, 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.
