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The Bank of Korea kept its benchmark rate unchanged at a record low of 0.5% at its November meeting and raised its 2020 and 2021 GDP forecasts. The won gained modestly in Asian trade after the decision.
Coronavirus cases in South Korea rose above 500 daily, the highest since March.
The unchanged policy and improved growth outlook support the won, which affects the purchasing power of Korean feed buyers. This is a routine central bank decision with limited direct effect on feed commodity prices.
fxdailyreport.comDaffa ZakyNov 26, 2020Not 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.
