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Investors are buying South Korea's won, which is up nearly 12% against the dollar this year and recently hit its strongest level in more than two years. Foreign investors bought a net $3.3 billion of Korean stocks and bonds in October, and the central bank has been less willing than before to slow the currency's gains.
Some analysts think the government is wary of upsetting the Trump administration, which has been watching for currency manipulation.
A firmer won makes Korean feed and grain imports cheaper in local currency, which can support buying. The currency move is driven by macro and policy factors rather than feed supply or demand.
foxbusiness.comSaumya Vaishampayan, Kwanwoo Jun, Ira IosebashviliDec 4, 2017Not 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.
