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Westpac analysts note the yuan had followed a clear appreciation trend from August 2017 until mid-June 2018, then reversed. Since June 12, nearly all G10 currencies fell against the dollar, and the yuan was among the weakest in Asia at about -3.2%.
The analysts doubt China views a weaker yuan as a deliberate policy tool in the trade fight.
The broad dollar strength and yuan weakness pressure commodity-linked currencies and raise the dollar cost of Chinese imports, a modest headwind for US feed exports. The analysts' view that the yuan slide is not a deliberate policy tool limits the expected scale of the price effect.
forexcrunch.comFX Street28 jun 2018Tras 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.
Todavía no hay suficientes eventos comparables pasados para una lectura histórica.
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.
Westpac analysis documents the reversal of the yuan's appreciation trend and its roughly 3% drop since mid-June, confirming the move within the window, though it gives limited causal detail.
