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The People's Bank of China set the yuan reference rate higher for a ninth straight session, the longest run of strengthening since early 2011. The gains are the strongest central-bank support for the currency since the Arab Spring period.
Sustained central-bank support for the yuan signals policy tolerance for a stronger currency, which can lower the yuan cost of dollar-priced feed imports. The effect on feed prices is indirect and currency-driven.
bloomberg.comBloomberg News7 sept 2017Tras 362 eventos bajista de macro pasados, Yuan chino (CNY por USD) se movió una mediana de -0,1 % en 5 sesiones (42% al alza; mitad central entre -0,4 % y +0,1 %), y -0,2 % 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 ninth straight stronger fixing signaled official tolerance for yuan appreciation and guided the market lower in CNY per USD.
