# USD/KRW hits fresh 2.5-year tops above 1,160 on awful S. Korean GDP and fx intervention talks - Forex Crunch

> 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.

- Date: 2019-04-25 · published 2019-04-25T12:00:00.000Z
- Category: macro · region South Korea · magnitude medium
- Page: https://feedsoft.ai/events/59823-usd-krw-hits-fresh-2-5-year-tops-above-1-160-on-awful-s-korean-gdp-and-fx
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

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.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2019/04/25/usd-krw-hits-fresh-2-5-year-tops-above-1160-on-awful-s-korean-gdp-and-fx-intervention-talks/

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