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The US Federal Reserve extended its six-month dollar swap agreements with nine central banks, including the Bank of Korea, until the end of March 2021. The won strengthened to 1,187.9 per dollar in early trading before the dollar recovered to close at 1,194.4.
The Bank of Korea's $60 billion swap line with the US had provided about $19.9 billion to the domestic forex market.
Extended dollar liquidity eases funding stress for emerging-market importers, which supports their ability to buy commodities. The effect on feed prices is small and indirect.
chosun.comJul 31, 2020Not enough comparable past events yet for a historical read.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
