Loading…
The Chinese yuan has fallen about 4% against the dollar over two months as weak consumer confidence and a sluggish property market eroded the post-pandemic recovery. China then stepped in and the yuan rose about 0.4% on Tuesday, its best gain in almost two weeks.
Beijing's intervention to stabilise the yuan reduces near-term pressure on Asian currencies and eases fears of a sharper slowdown in Chinese feed demand, but the underlying growth weakness persists.
reuters.comJun 27, 2023After 362 past bearish macro events, USDCNY moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
