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The yuan firmed as Chinese exporters sold dollars ahead of year end and investors priced in monetary easing. Premier Li Keqiang said the central bank would cut reserve requirement ratios in a timely way.
Authorities also marginally relaxed funding for property developers, which limited the expected fallout from a likely Evergrande default.
Expected easing supports Chinese growth and feed demand, but the currency response is limited. The yuan's firmer tone lowers the local cost of dollar-priced imports.
zawya.comShanghai NewsroomDec 6, 2021After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
