# Yuan's Plunge Against Rival Dollar Underscores China Stagnation Fears - Markets Insider

> The Chinese yuan fell as much as 0.6% to just under 7.22 per dollar, a seven-month low, despite the Federal Reserve pausing its rate hikes. Worries about China's slowing economy, including weaker industrial output and trade, drove the decline.

- Date: 2023-06-27 · published 2023-06-27T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/10494-yuan-s-plunge-against-rival-dollar-underscores-china-stagnation-fears-markets
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A sharp yuan slide signals weakening Chinese demand and can raise the dollar cost of imports, which tends to pressure buyers of soybeans and other feed inputs.

## Read by commodity

- USDCNY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2023-06-26 | 1 | +0.8% | 3.4 | Reports of the yuan sliding to a seven-month low near 7.22 per dollar on China growth worries describe the weakness around the move window, though the article is dated 2023-06-27, a day after the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-01-19 | [China’s yuan set to weaken for a third week against rebounding dollar - Markets - Business Recorder](https://feedsoft.ai/events/32358-china-s-yuan-set-to-weaken-for-a-third-week-against-rebounding-dollar-markets.md) | -0.4% | -0.0% |
| USDCNY | 2016-11-10 | [Donald Trump's win in US presidential election sends China yuan to six-year low against dollar](https://feedsoft.ai/events/7740-donald-trump-s-win-in-us-presidential-election-sends-china-yuan-to-six-year-low.md) | +1.3% | +1.9% |
| USDCNY | 2021-03-24 | [China's yuan slips on dollar strength, Sino-West tensions - Markets - Business Recorder](https://feedsoft.ai/events/48336-china-s-yuan-slips-on-dollar-strength-sino-west-tensions-markets-business.md) | +0.9% | -0.3% |
| USDCNY | 2022-06-13 | [China’s yuan slips to 2-week low as dollar jumps on inflation data - Markets - Business Recorder](https://feedsoft.ai/events/41171-china-s-yuan-slips-to-2-week-low-as-dollar-jumps-on-inflation-data-markets.md) | +0.1% | +0.2% |
| USDCNY | 2024-05-08 | [China’s yuan slips as hawkish Fed comments boost dollar - Markets - Business Recorder](https://feedsoft.ai/events/5869-china-s-yuan-slips-as-hawkish-fed-comments-boost-dollar-markets-business.md) | +0.2% | +0.4% |

## Sources

- markets.businessinsider.com: https://markets.businessinsider.com/news/currencies/china-economy-yuan-de-dollarization-dollar-federal-reserve-interest-rates-2023-6

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