# Age of crisis leaves world's big currencies out of sync

> The yuan has slid almost 5% so far this year, hurt by a weak economy and a wide interest-rate gap with the United States. Beijing set a stronger-than-expected trading band for the currency, suggesting discomfort with the pace of its weakening.

- Date: 2023-06-28 · published 2023-06-28T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/10490-age-of-crisis-leaves-world-s-big-currencies-out-of-sync
- 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 weigh on its purchasing of soybeans and other feed grains, while the policy response hints at possible support.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-11-25 | [Dollar pulls back after skittling  world currencies](https://feedsoft.ai/events/74038-dollar-pulls-back-after-skittling-world-currencies.md) | -0.5% | +0.4% |
| USDCNY | 2019-06-11 | [Why ‘cracking seven’ is a big deal for China’s currency](https://feedsoft.ai/events/58820-why-cracking-seven-is-a-big-deal-for-china-s-currency.md) | -0.1% | -0.6% |
| USDCNY | 2018-09-27 | [World’s two largest economies diverge as China leaves key interest rate unchanged in wake of US Fed cut \| South China Morning Post](https://feedsoft.ai/events/63271-world-s-two-largest-economies-diverge-as-china-leaves-key-interest-rate.md) | -0.1% | +1.0% |
| USDCNY | 2019-06-25 | [Most Asian currencies weaker than they should be against dollar - Nikkei Asia](https://feedsoft.ai/events/58819-most-asian-currencies-weaker-than-they-should-be-against-dollar-nikkei-asia.md) | -0.4% | +0.0% |
| USDCNY | 2023-09-28 | [Rupee ducks slump in EM currencies, but crude, dollar threats loom](https://feedsoft.ai/events/34391-rupee-ducks-slump-in-em-currencies-but-crude-dollar-threats-loom.md) | -0.2% | +0.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/age-crisis-leaves-worlds-big-currencies-out-sync-2023-06-28/

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