Loading…
ANZ economists forecast USD/KRW will end 2020 at 1170, citing an expected export rebound and further US dollar weakness. The won has traded mostly in a 1,190–1,210 range since spiking to 1,294 in March.
ANZ expects gradual won appreciation into 2021 and says the central bank has ended its rate-cut cycle.
A stronger won and export recovery in South Korea signal firmer demand for imported feed inputs and better buying power for a major feed importer. Currency moves of this kind have little direct effect on grain prices but affect Korean import costs.
octaafrica.netJul 31, 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.
