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The yuan weakened slightly against the dollar after the central bank set its midpoint at 6.8292, the weakest fix since May 31. Traders cited strong seasonal corporate dollar demand that was expected to persist into July.
Seasonal dollar demand weakens the yuan, which slightly raises the cost of dollar-priced imports for Chinese feed buyers. The effect on grain prices is limited.
singapore.timesofnews.comTimes of NewsJun 27, 2017After 398 past bullish macro events, USDCNY moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
