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The Korean won jumped nearly five big figures against the dollar, with USD/KRW falling to 1,203.81, a seven-day low, after North Korea reportedly cancelled plans to deploy more troops to the border. A broader slump in the US dollar also weighed on the pair.
Analysts pointed to coronavirus community transmission in South Korea as a risk.
A stronger won lowers the local-currency cost of imported feed grains and meal for Korean buyers. The move is driven by currency and geopolitical sentiment rather than any change in grain supply.
octaafrica.netJun 24, 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.
