# China Sets Yuan Midpoint Against Dollar at One-Year High   - Caixin Global

> The PBOC set the yuan's central parity at 6.6102 per dollar, a one-year high, after the greenback weakened on Korean Peninsula tensions. Separately, a hurricane reduced oil production in Texas. Economists said the yuan could keep strengthening in the short term, with one forecaster seeing 6.4 as likely within 12 months.

- Date: 2017-08-30 · published 2017-08-30T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/10857-china-sets-yuan-midpoint-against-dollar-at-one-year-high-caixin-global
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger yuan lowers China's dollar cost of imported feed ingredients, supporting demand. Lower Texas crude output from the hurricane tightens energy supply and supports oil-linked costs.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-05-31 | [Yuan surges to 7-month high against US dollar - Gulf Times](https://feedsoft.ai/events/8837-yuan-surges-to-7-month-high-against-us-dollar-gulf-times.md) | -0.2% | -0.2% |
| USDCNY | 2018-08-25 | [China Reintroduces Measure to Help Defend Yuan Exchange Rate - Caixin Global](https://feedsoft.ai/events/10039-china-reintroduces-measure-to-help-defend-yuan-exchange-rate-caixin-global.md) | +0.4% | +0.8% |
| USDCNY | 2022-09-07 | [China Sets Yuan CNY USD Fix at 6.916 Per Dollar, Strongest Bias on Record - Bloomberg](https://feedsoft.ai/events/12269-china-sets-yuan-cny-usd-fix-at-6-916-per-dollar-strongest-bias-on-record.md) | -0.4% | +2.3% |
| 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% |
| USDCNY | 2021-10-21 | [China's silence on yuan's swift gains keeps markets buzzing](https://feedsoft.ai/events/7482-china-s-silence-on-yuan-s-swift-gains-keeps-markets-buzzing.md) | -0.0% | -0.1% |
| DXY | 2017-08-30 | [Renminbi rises strongly against US dollar - Chinadaily.com.cn](https://feedsoft.ai/events/10861-renminbi-rises-strongly-against-us-dollar-chinadaily-com-cn.md) | -0.6% | +0.9% |
| DXY | 2020-08-27 | [The Mexican peso loses 24 cents against the dollar - Opportimes](https://feedsoft.ai/events/51833-the-mexican-peso-loses-24-cents-against-the-dollar-opportimes.md) | -0.5% | +0.8% |
| DXY | 2017-08-28 | [China's Central Bank Is Embracing a Supercharged Yuan - Bloomberg](https://feedsoft.ai/events/10856-china-s-central-bank-is-embracing-a-supercharged-yuan-bloomberg.md) | -0.3% | -0.0% |

## Sources

- caixinglobal.com: https://www.caixinglobal.com/2017-08-30/china-sets-yuan-midpoint-against-dollar-at-one-year-high-101138066.html

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