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China cut its one-year and five-year loan prime rates by 10 basis points on Tuesday, the first cut in 10 months. The offshore yuan slipped to 7.1734 per dollar, while the dollar rose broadly and reached a seven-month high against the yen.
Analysts view the modest cut as unlikely to shift the currency much without fiscal spending. Persistent yuan weakness can weigh on Chinese demand expectations for imported feed ingredients.
channelnewsasia.com20 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.
The PBOC's first loan prime rate cut in 10 months, on the same day as the move, widened the rate gap with the US and lifted the dollar, which pushed the yuan weaker to about 7.17.
