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The PBOC's currency trading arm added a countercyclical component to the daily yuan fixing calculation to smooth investor sentiment and the herd effect. Analysts said it gives the central bank more room to limit yuan fluctuations and runs against the earlier goal of a more market-oriented exchange rate.
Greater yuan stability reduces currency-driven swings in Chinese import demand for feed ingredients, a modest factor for soybean and meal pricing.
caixinglobal.comPeng Qinqin, Wang Yuqian27.05.2017Nach 42 vergangenen Ereignisse (neutral, Politik) bewegte sich Chinesischer Yuan (CNY pro USD) im Median über 5 Handelstage um -0,0 % (50% höher; mittlere Hälfte -0,3 % bis +0,4 %) und über 20 Handelstage um -0,2 %.
Veränderungen des Benchmarks jedes Rohstoffs seit dem letzten Schluss vor dem Ereignis. Historische Werte bündeln frühere Ereignisse derselben Art; sie beschreiben, was passiert ist, nicht was passieren wird. Keine Anlageberatung.
The announced countercyclical fixing component gives the PBOC room to resist dollar strength, which supported the yuan and contributed to the drop in USDCNY.
The countercyclical component gives the PBOC more room to limit depreciation and steer the currency, which contributed to the yuan's rise.
