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The Bank of Korea planned an emergency meeting to check financial stability after US-Iran military escalation. The won fell almost 1% to 1,174.25 per dollar and the local stock index dropped more than 1%.
Iran confirmed missile attacks on US bases in Iraq following the killing of a top Iranian general.
Geopolitical risk pushed investors into safe assets and weakened the won, which affects dollar-denominated feed costs in Korea. Crude oil and freight risk also rose, though the effect on feed prices was limited.
koreatimes.co.krJan 8, 2020Not enough comparable past events yet for a historical read.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
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.
