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The yuan rebounded on Sept. 6 from a more than two-year low after the PBOC cut the FX reserve requirement and set firmer-than-expected midpoint fixes.
The onshore yuan had lost over 2% against the dollar in August amid dollar strength and a slowing economy.
Official efforts to slow yuan depreciation support Chinese import purchasing power, but analysts expect the currency to test 7 per dollar, which keeps dollar-priced feed imports relatively expensive.
brecorder.comReuters6 sept 2022Tras 50 eventos bajista de política pasados, Yuan chino (CNY por USD) se movió una mediana de -0,1 % en 5 sesiones (46% al alza; mitad central entre -0,4 % y +0,4 %), 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.
Directly describes the Sept. 6 yuan move: a rebound from the two-year low after the PBOC cut the FX reserve ratio and set firmer-than-expected fixes, which reversed the CNY per USD level.
