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China has tightened the yuan's link to the dollar, producing a period of unusual currency calm. Analysts warn that pressure to weaken the yuan could build up and later cause sharp devaluation.
A managed yuan reduces near-term currency swings that affect the cost of Chinese purchases of imported feed. A future sharp devaluation would be a risk to import demand and prices.
wsj.comLingling Wei in Beijing and Saumya Vaishampayan in Hong KongMay 25, 2017After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.
