# Asian currencies rise on Fed minutes; yuan shoots to 2-month high | Daily FT

> Asian currencies firmed after minutes from the US Federal Reserve's May meeting showed policymakers favouring a gradual approach to rate hikes. The yuan reached two-month highs after state-owned banks sold dollars onshore. The dollar weakened and US Treasury yields fell.

- Date: 2017-05-26 · published 2017-05-26T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/10569-asian-currencies-rise-on-fed-minutes-yuan-shoots-to-2-month-high-daily-ft
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker dollar and lower US yields support emerging-market currencies and can lift dollar-denominated commodity prices. The Fed signal on gradual tightening is a supportive backdrop for feed markets.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-05-26 | [Ringgit jumps on Opec, yuan at three-month high, other Asian currencies drift \| Malay Mail](https://feedsoft.ai/events/71274-ringgit-jumps-on-opec-yuan-at-three-month-high-other-asian-currencies-drift.md) | -0.9% | -0.5% |
| USDCNY | 2024-07-24 | [Chinese yuan hits eight-month low as commodities currencies continue slide](https://feedsoft.ai/events/7522-chinese-yuan-hits-eight-month-low-as-commodities-currencies-continue-slide.md) | -0.3% | -2.0% |
| USDCNY | 2026-07-31 | [Yuan rises to 1-1/2-month high - Markets - Business Recorder](https://feedsoft.ai/events/18572-yuan-rises-to-1-1-2-month-high-markets-business-recorder.md) | -0.1% | -0.5% |
| USDCNY | 2023-06-27 | [Asian currencies firm on yuan recovery, stocks mixed - Markets - Business Recorder](https://feedsoft.ai/events/10492-asian-currencies-firm-on-yuan-recovery-stocks-mixed-markets-business-recorder.md) | +0.0% | -1.4% |
| USDCNY | 2020-01-14 | [China's yuan strengthens to 5-month high - Chinadaily.com.cn](https://feedsoft.ai/events/55313-china-s-yuan-strengthens-to-5-month-high-chinadaily-com-cn.md) | +0.2% | +1.1% |

## Sources

- ft.lk: https://www.ft.lk/Financial-Services/asian-currencies-rise-on-fed-minutes-yuan-shoots-to-2-month-high/42-617929

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