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The Korean won broke past 1,230 per dollar on March 8, 2022, reaching its weakest level since May 2020. Heavy foreign selling of Korean assets and surging energy and commodity prices drove the move, and intervention failed to halt the slide.
Traders flagged 1,250 as the next resistance level.
A weaker won makes dollar-priced energy and commodity imports more expensive for Korea, a major fuel and feed importer. Further depreciation would raise landed costs for feed ingredients.
pulse.mk.co.krMar 8, 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.
