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The Korean won weakened to 1,148.5 per dollar on Wednesday, up 3.1 won, and touched 1,151.9 intraday. The dollar-won rate was pushed toward 1,150 by a jump in US consumer prices and by a COVID-19 resurgence in South Korea that prompted tighter social distancing in the Seoul area.
The won has lost about 2% against the dollar this month while the dollar index fell 0.35%.
A weaker won raises the local-currency cost of imported feed ingredients such as soybean meal, corn and wheat for Korean buyers, which can lift landed feed costs even when dollar prices are flat.
english.hani.co.krJul 15, 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.
