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The onshore yuan fell to its weakest level against the dollar since November 20, 2023, after the PBOC cut the five-year loan prime rate from 4.20% to 3.95%. The article says the central bank is worried about capital outflows and a run on the currency.
A weaker yuan raises the cost of dollar-priced imports for China and can reduce its appetite for US feed grains and meal. Concern about capital flight suggests continued pressure on the currency.
investinglive.comEamonn Sheridan20 feb 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.
