Loading…
The Korean won fell to its weakest level against the dollar since January 2017, with USD/KRW reaching 1,161.39. The slide followed South Korea's Q1 2019 GDP contraction of 0.3% q/q, its worst since Q4 2008, and remarks from a deputy finance minister that authorities would act against abnormal foreign exchange moves.
A weaker won raises the local cost of dollar-priced feed imports such as corn, soymeal and wheat for Korean buyers. Intervention talk limits how far the currency may fall, but weak growth keeps the pressure on.
forexcrunch.comFX StreetApr 25, 2019Not 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.
