# Yuan Pares Record Rally as Goldman Says Now’s the Time to Sell - Bloomberg

> The offshore yuan pared a record weekly rally after the PBOC set its fixing weaker than projected, and it fell as much as 1.1% to 6.8623 per dollar. Goldman Sachs advised clients that bearish yuan bets have worked best after interventions flush out positions.

- Date: 2017-01-06 · published 2017-01-06T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/10248-yuan-pares-record-rally-as-goldman-says-now-s-the-time-to-sell-bloomberg
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The reversal in yuan strength points to renewed dollar demand and a weaker yuan, which can modestly weigh on dollar-denominated feed prices and Chinese purchasing power.

## Read by commodity

- DXY: bullish ▲
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -1.0% | -1.1% |
| DXY | 2021-06-18 | [Goldman’s Currie Says Buy Commodities Dip, Bull Case Intact - Bloomberg](https://feedsoft.ai/events/5759-goldman-s-currie-says-buy-commodities-dip-bull-case-intact-bloomberg.md) | -0.2% | +0.4% |
| DXY | 2021-09-30 | [Dollar (USD) Rally Challenges China Recovery With Yuan (RMB) Gains - Bloomberg](https://feedsoft.ai/events/45272-dollar-usd-rally-challenges-china-recovery-with-yuan-rmb-gains-bloomberg.md) | +0.0% | -1.1% |
| DXY | 2016-11-16 | [China’s Yuan Tumbles to Eight-Year Low as Banks Weaken Forecasts - Bloomberg](https://feedsoft.ai/events/7741-china-s-yuan-tumbles-to-eight-year-low-as-banks-weaken-forecasts-bloomberg.md) | +0.6% | -0.0% |
| DXY | 2016-11-17 | [A Primer on the Dollar's Surge - Bloomberg](https://feedsoft.ai/events/8326-a-primer-on-the-dollar-s-surge-bloomberg.md) | +1.1% | +1.7% |
| USDCNY | 2025-01-14 | [China Will ‘Try Very Hard’ to Slow Yuan’s Fall, UBS’ Wang Says - Bloomberg](https://feedsoft.ai/events/12208-china-will-try-very-hard-to-slow-yuan-s-fall-ubs-wang-says-bloomberg.md) | -0.8% | -0.3% |
| USDCNY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -1.2% | +0.3% |
| USDCNY | 2017-01-16 | [Yuan Top Forecaster Sees No End to Losses as China Economy Slows - Bloomberg](https://feedsoft.ai/events/11878-yuan-top-forecaster-sees-no-end-to-losses-as-china-economy-slows-bloomberg.md) | -0.6% | -0.5% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-01-06/china-strengthens-yuan-fixing-by-most-since-2005-as-dollar-sinks

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