# Korea should brace for US-China currency war  - The Korea Times

> Korean economists said the country should prepare for the US-China trade dispute escalating into a currency war, as Beijing lets the yuan weaken against the dollar in response to US tariffs. The US Treasury kept China and Korea on its currency monitoring list in a May 29 report, and Commerce Secretary Ross said on May 23 that the US could countervail currency subsidies.

- Date: 2019-05-29 · published 2019-05-29T12:00:00.000Z
- Category: geopolitics · region China · magnitude medium
- Page: https://feedsoft.ai/events/59316-korea-should-brace-for-us-china-currency-war-the-korea-times
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Possible currency retaliation would add volatility to Asian import currencies, which could change buying power for feed importers and the price of US grain and meal in local terms.

## Read by commodity

- DXY: bullish ▲
- USDCNY: bullish ▲
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2020-05-25 | [As tensions with US boil, China hints at weaker yuan - Nikkei Asia](https://feedsoft.ai/events/53378-as-tensions-with-us-boil-china-hints-at-weaker-yuan-nikkei-asia.md) | -0.0% | -0.8% |
| USDCNY | 2020-05-28 | [Chinese Renminbi: the Canary in the coal mine?](https://feedsoft.ai/events/53382-chinese-renminbi-the-canary-in-the-coal-mine.md) | -0.8% | -1.3% |
| USDCNY | 2022-04-25 | [China Lockdown Angst Rips Through Markets; CSI 300 Stocks, Yuan (CNY/USD) Plunge - Bloomberg](https://feedsoft.ai/events/7338-china-lockdown-angst-rips-through-markets-csi-300-stocks-yuan-cny-usd-plunge.md) | +1.6% | +2.9% |
| USDCNY | 2020-05-27 | [USD/CNH hits record highs, US determines Hong Kong no longer autonomous - Forex Crunch](https://feedsoft.ai/events/53383-usd-cnh-hits-record-highs-us-determines-hong-kong-no-longer-autonomous-forex.md) | -0.5% | -1.1% |
| USDCNY | 2021-03-23 | [China's yuan dips as Xinjiang sanctions crimp risk sentiment \| Financial Post](https://feedsoft.ai/events/48337-china-s-yuan-dips-as-xinjiang-sanctions-crimp-risk-sentiment-financial-post.md) | +1.0% | +0.0% |
| DXY | 2019-07-17 | [Gold, dollar favored amid growing uncertainties - The Korea Times](https://feedsoft.ai/events/58307-gold-dollar-favored-amid-growing-uncertainties-the-korea-times.md) | +0.3% | +1.5% |
| DXY | 2022-03-04 | [Ukraine war sends euro below $1.10 for first time in two years](https://feedsoft.ai/events/8256-ukraine-war-sends-euro-below-1-10-for-first-time-in-two-years.md) | +0.7% | -0.6% |
| DXY | 2024-04-13 | [US dollar rallies on safe-haven bids, rate cut delay; yen hits 34-year low - The Economic Times](https://feedsoft.ai/events/12557-us-dollar-rallies-on-safe-haven-bids-rate-cut-delay-yen-hits-34-year-low-the.md) | +0.7% | -0.2% |

## Sources

- koreatimes.co.kr: https://www.koreatimes.co.kr/economy/20190529/korea-should-brace-for-us-china-currency-war

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