Loading…
The won rose to a 2.5-year high of 1,097 per dollar on December 3 as Korean stocks rallied to records. The move followed a $908 billion US stimulus proposal and UK approval of the Pfizer COVID-19 vaccine.
Currency strength lowers the won cost of imported feed inputs for Korean buyers, while the weaker dollar supports USD-priced commodities.
kedglobal.comIk-Hwan Kim, Jin-gyu KangDec 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.
