# China's Yuan Highest Since 2018 as Easing Covid Worry Fuels Risk-On - Bloomberg

> China's yuan rose to its strongest level since May 2018, reaching 6.3451 per dollar. The move followed bets that the central bank's broad monetary easing would support growth and that the Omicron variant would have a limited global impact. Demand for the dollar as a haven eased.

- Date: 2021-12-08 · published 2021-12-08T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/11294-china-s-yuan-highest-since-2018-as-easing-covid-worry-fuels-risk-on-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 stronger yuan lowers the cost of Chinese import purchases in dollar terms, which can support demand for feed commodities. The effect on prices is modest because the move reflects sentiment rather than a change in trade flows.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2021-12-09 | 1 | +0.5% | 3.2 | Yuan hit its strongest since 2018 on Dec 8 on PBOC easing bets and eased haven dollar demand, but it describes yuan strength, so the 0.53% CNY/USD move may reflect either that momentum or its reversal. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-07-30 | [CNY USD: Yuan Rises to Highest Since Early 2023 as Dollar Drops After Fed - Bloomberg](https://feedsoft.ai/events/18568-cny-usd-yuan-rises-to-highest-since-early-2023-as-dollar-drops-after-fed.md) | -0.3% | -0.6% |
| USDCNY | 2020-09-01 | [Yuan’s Jump to One-Year High Tests China’s Tolerance for Gains - Bloomberg](https://feedsoft.ai/events/51313-yuan-s-jump-to-one-year-high-tests-china-s-tolerance-for-gains-bloomberg.md) | -0.1% | -0.5% |
| USDCNY | 2016-12-02 | [Offshore Yuan Heads for Best Week Since January as Rates Climb - Bloomberg](https://feedsoft.ai/events/73696-offshore-yuan-heads-for-best-week-since-january-as-rates-climb-bloomberg.md) | -0.1% | +0.9% |
| USDCNY | 2018-04-02 | [China Sets Yuan Mid-Point At Highest Level Since 2015 Devaluation - Babypips.com](https://feedsoft.ai/events/65712-china-sets-yuan-mid-point-at-highest-level-since-2015-devaluation-babypips-com.md) | +0.5% | +1.0% |
| USDCNY | 2017-06-01 | [Yuan's Forecasters Getting It Wrong as China Jolts Markets - Bloomberg](https://feedsoft.ai/events/70728-yuan-s-forecasters-getting-it-wrong-as-china-jolts-markets-bloomberg.md) | -0.2% | -0.2% |
| DXY | 2026-07-30 | [CNY USD: Yuan Rises to Highest Since Early 2023 as Dollar Drops After Fed - Bloomberg](https://feedsoft.ai/events/18568-cny-usd-yuan-rises-to-highest-since-early-2023-as-dollar-drops-after-fed.md) | -1.2% | -1.9% |
| DXY | 2023-12-22 | [Euro (EUR USD) Hits Strongest Since August as Dollar Eases on US Rate Bets - Bloomberg](https://feedsoft.ai/events/32927-euro-eur-usd-hits-strongest-since-august-as-dollar-eases-on-us-rate-bets.md) | -0.8% | +1.5% |
| DXY | 2017-12-28 | [China's yuan rises on US dollar weakness, on track for best year since 2008 - Times of News](https://feedsoft.ai/events/67709-china-s-yuan-rises-on-us-dollar-weakness-on-track-for-best-year-since-2008.md) | -1.2% | -3.8% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2021-12-08/yuan-hits-highest-since-2018-as-easing-virus-worry-fuels-risk-on

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