# USD/KRW Price Analysis: S. Korean won corrects from three-week lows despite poor GDP — Octa

> The won pared losses from three-week highs of 1,241.23 despite Q1 GDP contracting 1.4% quarter on quarter, the worst since Q4 2008. A third stimulus package raising policy financing to 135 trillion won also supported the currency.

- Date: 2020-04-23 · published 2020-04-23T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/53891-usd-krw-price-analysis-s-korean-won-corrects-from-three-week-lows-despite-poor
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Stimulus support and a weak dollar cushioned the won against bad growth data. For feed buyers the story is a currency move with no direct effect on commodity balances.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/815334/

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