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The South Korean won was broadly flat at the start of the trading week as investors weighed escalating US-China tensions over trade and Hong Kong. Other Asian currencies were also sliding on concerns that the dispute could damage the coronavirus economic recovery.
China's parliament was expected to pass national security legislation for Hong Kong, and the US was preparing possible sanctions.
Rising geopolitical risk tends to weaken Asian currencies and can push the dollar higher, which pressures dollar-priced commodities. Trade retaliation risk could also reduce Chinese purchases of US farm goods.
fxdailyreport.comDaffa ZakyMay 25, 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.
