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The South Korean won extended its losses against the US dollar as producer prices rose 6.4% year-on-year in May. Exports advanced 29.5% in the first 20 days of June, supported by semiconductors, US fiscal stimulus and global demand.
Strong export growth and rising inflation are supportive of the won's weakness, raising the dollar cost of Korean imports including feed ingredients. The effect on feed grain prices is modest.
fxdailyreport.comDaffa ZakyJun 22, 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.
