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The yuan held near a 3.5-year high against the dollar, supported by year-end corporate demand for the currency. Investors are cautious about how far Beijing will allow it to appreciate.
The official midpoint fix came in weaker than market forecasts.
A firmer yuan reduces the local cost of dollar-priced imports, but the weaker-than-expected fix suggests authorities are limiting gains. This points to a range-bound currency, with little direct effect on feed prices.
financialpost.comReutersDec 9, 2021Not enough comparable past events yet for a historical read.
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.
On Dec 9 the yuan hovered near a 3.5-year high on year-end corporate dollar selling, while a weaker-than-expected fixing signaled Beijing limiting appreciation, directly tied to the day's move.
