# Yuan starts 2017 weaker after PBOC cuts fixing by most in two weeks | South China Morning Post

> The onshore yuan weakened on the first trading day of 2017 after the PBOC cut its fixing by the largest amount in two weeks. The currency had fallen 6.6% in 2016, its worst annual performance in more than two decades.

- Date: 2017-01-03 · published 2017-01-03T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/10250-yuan-starts-2017-weaker-after-pboc-cuts-fixing-by-most-in-two-weeks-south-china
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan raises the cost of dollar-priced imports for China, which can soften Chinese feed demand at the margin.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-06-27 | [Update \| Chinese yuan slides to 5-year low, pound slumps further in Brexit aftershock \| South China Morning Post](https://feedsoft.ai/events/12457-update-chinese-yuan-slides-to-5-year-low-pound-slumps-further-in-brexit.md) | +0.6% | +1.0% |
| USDCNY | 2016-10-09 | [Flash crash of pound piles pressure on already weak yuan \| South China Morning Post](https://feedsoft.ai/events/5891-flash-crash-of-pound-piles-pressure-on-already-weak-yuan-south-china-morning.md) | +1.0% | +1.6% |
| USDCNY | 2024-06-28 | [China’s central bank puts the yuan’s exchange-rate swings in crosshairs \| South China Morning Post](https://feedsoft.ai/events/30006-china-s-central-bank-puts-the-yuan-s-exchange-rate-swings-in-crosshairs-south.md) | -0.0% | -0.3% |
| USDCNY | 2021-11-02 | [Macroscope \| Why the wind behind the Chinese yuan’s strength is likely to die down in 2022 \| South China Morning Post](https://feedsoft.ai/events/44273-macroscope-why-the-wind-behind-the-chinese-yuan-s-strength-is-likely-to-die.md) | -0.1% | -0.5% |
| USDCNY | 2024-12-03 | [China’s yuan hits lowest level in months as Trump tariff threats roil currencies \| South China Morning Post](https://feedsoft.ai/events/27171-china-s-yuan-hits-lowest-level-in-months-as-trump-tariff-threats-roil.md) | -0.2% | +0.4% |

## Sources

- scmp.com: https://www.scmp.com/business/markets/article/2058836/yuan-starts-2017-weaker-after-pboc-cuts-fixing-most-two-weeks

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