# China’s global currency aspirations are falling fast

> The Chinese renminbi fell to a 13-month low against the dollar amid a worsening US trade dispute and a slowing economy growing 6.5% in the current quarter. Analysts speculate Beijing may be allowing depreciation to offset tariff costs.

- Date: 2018-08-22 · published 2018-08-22T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/10043-china-s-global-currency-aspirations-are-falling-fast
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A weakening renminbi and slowing Chinese growth reduce demand for imported feed ingredients and raise the cost of imports. The tariff dispute adds downside risk to US agricultural exports to China.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-05-02 | [China is weakening its currency before US trade talks begin](https://feedsoft.ai/events/65234-china-is-weakening-its-currency-before-us-trade-talks-begin.md) | +0.6% | +1.3% |
| USDCNY | 2018-10-29 | [China & Brazil: Currencies on Diverging Paths?](https://feedsoft.ai/events/62740-china-and-brazil-currencies-on-diverging-paths.md) | -0.8% | +0.1% |
| USDCNY | 2017-02-01 | [China’s soybean speculation](https://feedsoft.ai/events/72358-china-s-soybean-speculation.md) | +0.1% | +0.0% |
| USDCNY | 2025-04-16 | [China's yuan slips as worsening Sino-US relations outweigh upbeat Q1 data](https://feedsoft.ai/events/25352-china-s-yuan-slips-as-worsening-sino-us-relations-outweigh-upbeat-q1-data.md) | -0.0% | -1.5% |
| USDCNY | 2019-08-06 | [U.S.-China Trade War Spreads From Tariffs To A Battle Over Currencies : NPR](https://feedsoft.ai/events/5374-u-s-china-trade-war-spreads-from-tariffs-to-a-battle-over-currencies-npr.md) | +0.1% | +1.9% |
| SOY | 2019-09-01 | [Yuan fall: Why is China's currency getting weaker?](https://feedsoft.ai/events/57797-yuan-fall-why-is-china-s-currency-getting-weaker.md) | -1.4% | +5.7% |
| SOY | 2025-04-21 | [U.S.-China trade war 2.0: What are the implications for global oilseed markets? \| IFPRI](https://feedsoft.ai/events/14672-u-s-china-trade-war-2-0-what-are-the-implications-for-global-oilseed-markets.md) | +1.3% | +1.3% |
| SOY | 2018-08-20 | [Trump accuses China of 'manipulating' its currency](https://feedsoft.ai/events/10040-trump-accuses-china-of-manipulating-its-currency.md) | -4.5% | -6.6% |

## Sources

- eastasiaforum.org: https://eastasiaforum.org/2018/08/22/chinas-global-currency-aspirations-are-falling-fast

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.