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The Chinese yuan fell as much as 0.6% to just under 7.22 per dollar, a seven-month low, despite the Federal Reserve pausing its rate hikes. Worries about China's slowing economy, including weaker industrial output and trade, drove the decline.
A sharp yuan slide signals weakening Chinese demand and can raise the dollar cost of imports, which tends to pressure buyers of soybeans and other feed inputs.
markets.businessinsider.comGeorge Glover27 jun 2023Tras 398 eventos alcista de macro pasados, Yuan chino (CNY por USD) se movió una mediana de +0,0 % en 5 sesiones (56% al alza; mitad central entre -0,3 % y +0,5 %), y +0,0 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Reports of the yuan sliding to a seven-month low near 7.22 per dollar on China growth worries describe the weakness around the move window, though the article is dated 2023-06-27, a day after the move.
