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The yuan hit an 18-month low and was on course for its worst month since the 1994 currency reforms, having fallen more than 4.5% against the dollar in April. Analysts said foreign selling now drives the decline, not domestic capital outflows, which limits Beijing's ability to restrict capital movement.
Continued yuan weakness raises the dollar cost of Chinese purchases of US and Brazilian feed ingredients, which can soften import demand. Stronger dollar conditions add further downside risk for the yuan.
reuters.comSamuel Shen29 abr 2022Tras 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.
Tras 2356 eventos alcista de macro pasados, Dólar estadounidense (amplio) se movió una mediana de +0,2 % en 5 sesiones (60% al alza; mitad central entre -0,3 % y +0,7 %), y +0,4 % 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.
Describes yuan hitting an 18-month low and its worst month since 1994 amid foreign selling, which captures the late-April depreciation momentum, though published a day after the move.
Yuan fell to an 18-month low, with large April losses against the dollar adding to the broad dollar's gain.
