# [News analysis] How much will the Korean won gain on the US dollar?

> Analysts attribute the won's rapid October gains against the dollar to expectations of a US stimulus package of up to $2.2 trillion and the strength of the Chinese yuan after China's economic recovery. The won has gained 24 won in October alone, roughly triple the average daily pace of September.

- Date: 2020-11-01 · published 2020-11-01T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/50865-news-analysis-how-much-will-the-korean-won-gain-on-the-us-dollar
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Currency-driven strength in the won and yuan can influence Korean and Chinese import purchasing power for feed ingredients, but this is a background macro factor for grain markets.

## Read by commodity

- USDCNY: bearish ▼
- USDKRW: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-02-20 | [Korean Won, Chinese Yuan Set to Gain as US Interest Rates Expected to Drop](https://feedsoft.ai/events/31906-korean-won-chinese-yuan-set-to-gain-as-us-interest-rates-expected-to-drop.md) | +0.1% | +0.1% |
| USDCNY | 2024-04-23 | [Where king dollar is causing pain the most](https://feedsoft.ai/events/30983-where-king-dollar-is-causing-pain-the-most.md) | -0.1% | -0.1% |
| USDCNY | 2018-01-22 | [Yuan may rise more on weaker dollar: analysts - World - Chinadaily.com.cn](https://feedsoft.ai/events/11867-yuan-may-rise-more-on-weaker-dollar-analysts-world-chinadaily-com-cn.md) | -1.2% | -0.9% |
| USDCNY | 2018-02-07 | [US dollar will stay weak if China has its way: Morgan Stanley - The Business Times](https://feedsoft.ai/events/7107-us-dollar-will-stay-weak-if-china-has-its-way-morgan-stanley-the-business-times.md) | +0.9% | +0.6% |
| USDCNY | 2023-01-05 | [Yuan to Stay Below 6.8 Versus US Dollar This Year as Greenback Will Likely Weaken](https://feedsoft.ai/events/12767-yuan-to-stay-below-6-8-versus-us-dollar-this-year-as-greenback-will-likely.md) | -1.7% | -2.3% |

## Sources

- english.hani.co.kr: https://english.hani.co.kr/arti/english_edition/e_business/966849.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.