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The Korean won weakened past 1,200 per dollar for the first time in nine months, opening at 1,205 on Friday. Analysts expect further depreciation toward 1,230 but expect authorities to slow the decline through intervention.
The dollar has hit its strongest level against six major currencies since December 2002 after the Fed's rate hike.
A stronger dollar and weaker won raise the local cost of dollar-priced feed imports and can pressure Korean feed buyers' margins, while pressure on other Asian currencies may weigh on demand for US commodities.
koreatimes.co.krDec 23, 2016Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
