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The South Korean won rose to a 22-month high against the dollar after Joe Biden's election victory weakened the greenback. The won closed at 1,113.9 per dollar on November 9, its strongest level since January 2019.
Local banks forecast further won gains into 2021.
A stronger won lowers the local-currency cost of dollar-priced feed imports for Korea. The move reflects broader dollar weakness rather than a feed-specific driver.
koreaherald.comJung Min-kyungNov 9, 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.
