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The won closed at 1,097 per US dollar on December 3, its strongest level in about 30 months, as vaccine optimism and expected US fiscal stimulus weakened the dollar. Korea's foreign reserves rose $9.87 billion in November.
A firmer won lowers the local cost of dollar-priced feed imports, while a weaker dollar tends to support global commodity prices quoted in USD.
koreajoongangdaily.comJIN EUN-SOODec 3, 2020Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
