China Inc.’s Large Dollar Debts Fuel Beijing’s Efforts to Curb Yuan Plunge

After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% over 20.

• Apr 6, 2017China’s Efforts to Boost the Yuan-0.0%
• Nov 14, 2018US-China trade war: Tariffs spur record dollar-yuan currency trading-0.1%
• Dec 24, 2018China to keep yuan currency from sliding below 7 to the US dollar as part of trade war deal, analysts said | South China Morning Post-0.7%
• Nov 7, 2018China's reserves fall, suggesting Beijing propping up yuan | AP News+0.5%
• May 31, 2023Experts: Yuan set to remain largely stable - Chinadaily.com.cn+0.6%

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

• Mar 25, 2025Yuan drops to two-week low despite PBOC's efforts as dollar firms+0.4%
• Oct 14, 2024US dollar climbs to 10-week peak; euro, China's yuan fall+1.2%
• Apr 1, 2021China's yuan dips as Biden infrastructure plan lifts dollar | Financial Post-0.5%
• Apr 21, 2022China's yuan slides to 6-month low as tightening prospects help dollar | Financial Post+2.3%
• Nov 14, 2016Chinese yuan tumbles to a seven-year low as dollar surges | South China Morning Post+1.4%