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ING expects USD/KRW to rise above 1,200 by the second quarter of 2022 even though the Bank of Korea is hiking. The won has been one of the region's worst-performing currencies in 2021.
ING forecasts policy rates ending 2021 at 1.25%, with further hikes in 2022 and 2023.
A forecast of a weaker won through 2022 would raise the local cost of imported feed ingredients such as corn, soybean meal and meat-and-bone meal for Korean buyers. The forecast is a currency view rather than a supply event.
teletrade.orgNov 18, 2021Not 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.
