# Chinese yuan falls to more than 5-year low on Brexit fears

> China's yuan fell to its weakest level against the dollar in more than five years on Friday. Early voting in the Brexit referendum suggested Britain might leave the European Union.

- Date: 2016-06-24 · published 2016-06-24T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/10881-chinese-yuan-falls-to-more-than-5-year-low-on-brexit-fears
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan makes Chinese buyers less competitive on dollar-priced imports, which can dampen import demand for soybeans and meal, while broader risk-off flows can pressure commodity prices.

## Read by commodity

- USDCNY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2016-06-24 | 1 | +0.6% | 3.3 | Same-day report of yuan falling to a 5-year low on Brexit referendum fears and dollar safe-haven demand directly explains the 0.62% USD/CNY rise on June 24. |
| USDCNY | 2016-06-30 | 5 | +1.1% | 2.9 | The yuan fell to a five-year low on Brexit fears on June 24, starting the move within the 5-day window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-05-29 | [Chinese yuan falls to six-month low on dollar strength - Nikkei Asia](https://feedsoft.ai/events/30488-chinese-yuan-falls-to-six-month-low-on-dollar-strength-nikkei-asia.md) | -0.1% | +0.3% |
| USDCNY | 2016-10-13 | [Dollar stalls, yuan hits 6-year low on Chinese trade dip](https://feedsoft.ai/events/5888-dollar-stalls-yuan-hits-6-year-low-on-chinese-trade-dip.md) | +0.3% | +0.9% |
| USDCNY | 2016-06-27 | [Update \| Chinese yuan slides to 5-year low, pound slumps further in Brexit aftershock \| South China Morning Post](https://feedsoft.ai/events/12457-update-chinese-yuan-slides-to-5-year-low-pound-slumps-further-in-brexit.md) | +0.6% | +1.0% |
| USDCNY | 2024-12-03 | [CNY/USD: China’s Yuan Falls to One-Year Low on Tariff Risk, Dollar Gains - Bloomberg](https://feedsoft.ai/events/27168-cny-usd-china-s-yuan-falls-to-one-year-low-on-tariff-risk-dollar-gains-bloomberg.md) | -0.2% | +0.4% |
| USDCNY | 2016-11-16 | [Yuan falls to 8-year low as China-critic Trump prepares to take office](https://feedsoft.ai/events/7738-yuan-falls-to-8-year-low-as-china-critic-trump-prepares-to-take-office.md) | +0.5% | +0.7% |

## Sources

- reuters.com: https://www.reuters.com/article/china-yuan-idUSB9N164028/

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