# China's Central Bank Is Embracing a Supercharged Yuan - Bloomberg

> The People's Bank of China set the yuan's daily midpoint at its strongest level in a year, beating the average forecast of 18 traders and analysts in a Bloomberg survey. The fixing came while the dollar was subdued after the Jackson Hole symposium lacked hawkish rate-hike signals.

- Date: 2017-08-28 · published 2017-08-28T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/10856-china-s-central-bank-is-embracing-a-supercharged-yuan-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer yuan fixing signals official support for the currency, which can ease import costs for Chinese feed buyers. The effect on feed grain prices is limited because the dollar move is the main driver.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2017-08-28 | 1 | -0.6% | -3.3 | On 2017-08-28 the PBOC set the yuan midpoint at its strongest in a year, beating forecasts, and this directly drove the drop in CNY per USD alongside a subdued dollar after Jackson Hole. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-09-06 | [Why China's central bank is shoring up the yuan](https://feedsoft.ai/events/12268-why-china-s-central-bank-is-shoring-up-the-yuan.md) | +0.4% | +3.1% |
| USDCNY | 2022-04-27 | [China economy: Central bank tries to slow weakening yuan vs US dollar](https://feedsoft.ai/events/4947-china-economy-central-bank-tries-to-slow-weakening-yuan-vs-us-dollar.md) | +0.8% | +1.5% |
| USDCNY | 2026-03-13 | [China Strengthens Yuan Fixing for a Record 15th Straight Week - Bloomberg](https://feedsoft.ai/events/11465-china-strengthens-yuan-fixing-for-a-record-15th-straight-week-bloomberg.md) | +0.4% | -0.5% |
| USDCNY | 2023-07-06 | [China's yuan firms as central bank pledges again to stabilize currency](https://feedsoft.ai/events/35262-china-s-yuan-firms-as-central-bank-pledges-again-to-stabilize-currency.md) | -1.1% | -0.8% |
| USDCNY | 2024-12-19 | [China's central bank offers strongest yuan support since July after dollar gains](https://feedsoft.ai/events/27167-china-s-central-bank-offers-strongest-yuan-support-since-july-after-dollar-gains.md) | +0.2% | +0.5% |
| DXY | 2026-03-10 | [Yuan Rallies by Most Since May After PBOC Boosts Fixing Support - Bloomberg](https://feedsoft.ai/events/11464-yuan-rallies-by-most-since-may-after-pboc-boosts-fixing-support-bloomberg.md) | +0.5% | +0.8% |
| DXY | 2017-08-30 | [China Sets Yuan Midpoint Against Dollar at One-Year High   - Caixin Global](https://feedsoft.ai/events/10857-china-sets-yuan-midpoint-against-dollar-at-one-year-high-caixin-global.md) | -0.6% | +0.9% |
| DXY | 2017-01-31 | [Euro spikes after Trump's trade adviser says Germany is using 'grossly undervalued' currency](https://feedsoft.ai/events/73173-euro-spikes-after-trump-s-trade-adviser-says-germany-is-using-grossly.md) | -0.6% | -0.6% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-08-28/china-s-central-bank-is-embracing-a-supercharged-yuan

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