# USD/KRW Price Analysis: S. Korean won drops towards 3-week lows on a likely sharp GDP contraction - Forex Crunch

> Reuters poll economists expect Q1 GDP to have contracted about 1.5% quarter on quarter, the sharpest drop since 2008. South Korea's exports fell nearly 27% year on year in the first 20 days of April as lockdowns hit activity, and the won traded near three-week highs.

- Date: 2020-04-22 · published 2020-04-22T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/53893-usd-krw-price-analysis-s-korean-won-drops-towards-3-week-lows-on-a-likely-sharp
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Weak exports and growth push the won weaker against the dollar, adding import cost pressure for Korean buyers. The impact on global grain or feed prices is minimal.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/04/22/usd-krw-price-analysis-s-korean-won-drops-towards-3-week-lows-on-a-likely-sharp-gdp-contraction/

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