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The Bank of Korea held its benchmark rate at 1.0% despite most analysts expecting a 0.25-point cut. USD/KRW rose to an intraday high of 1,216.42 as coronavirus cases reached 1,595 and the US and South Korea postponed joint military drills.
A surprise hold keeps Korean financing conditions tight amid the outbreak, and the won's weakness reflects reduced regional growth expectations that weigh on commodity demand.
forexcrunch.comFX StreetFeb 27, 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.
