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The yuan appreciated sharply against the dollar on July 25 after a PBoC 1-year tender rate cut and suspected state-bank intervention. Commerzbank strategists said the central bank was likely managing the currency to offset the perception that monetary easing weakens the yuan.
They expect renewed pressure on the yuan over the longer term.
A weaker yuan would raise the cost of imported feed ingredients for China, which may slow purchases of soybeans and meal. Intervention-driven moves make the currency path less predictable for buyers.
octaafrica.net26 jul 2024Tras 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.
