# Yuan Rallies by Most Since May After PBOC Boosts Fixing Support - Bloomberg

> The onshore yuan rose as much as 0.5% to about 6.87 per dollar, its biggest one-day gain in 10 months. The People's Bank of China strengthened the daily reference rate by the most since January 2025 after the currency had hit a one-month low as oil prices pressured emerging Asian currencies.

- Date: 2026-03-10 · published 2026-03-10T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/11464-yuan-rallies-by-most-since-may-after-pboc-boosts-fixing-support-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 firmer yuan fix signals official support against dollar strength, which reduces depreciation pressure on Asian currencies. For feed buyers, a stronger yuan makes Chinese import demand for feed ingredients cheaper in dollar terms, which is mildly supportive for imports.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2026-03-10 | 1 | -0.4% | -3.1 | On 2026-03-10 the PBOC strengthened the fixing by the most in a long while after a one-month low, driving the yuan's biggest one-day gain in 10 months (CNY per USD down), which directly matches the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-12-19 | [China's central bank offers strongest yuan support since July after dollar gains](https://feedsoft.ai/events/27167-china-s-central-bank-offers-strongest-yuan-support-since-july-after-dollar-gains.md) | +0.2% | +0.5% |
| USDCNY | 2026-03-13 | [China Strengthens Yuan Fixing for a Record 15th Straight Week - Bloomberg](https://feedsoft.ai/events/11465-china-strengthens-yuan-fixing-for-a-record-15th-straight-week-bloomberg.md) | +0.4% | -0.5% |
| USDCNY | 2017-08-28 | [China's Central Bank Is Embracing a Supercharged Yuan - Bloomberg](https://feedsoft.ai/events/10856-china-s-central-bank-is-embracing-a-supercharged-yuan-bloomberg.md) | -1.4% | -0.4% |
| USDCNY | 2022-09-07 | [China Sets Yuan CNY USD Fix at 6.916 Per Dollar, Strongest Bias on Record - Bloomberg](https://feedsoft.ai/events/12269-china-sets-yuan-cny-usd-fix-at-6-916-per-dollar-strongest-bias-on-record.md) | -0.4% | +2.3% |
| USDCNY | 2022-04-26 | [China cuts banks’ FX reserve ratio to support yuan - Business & Finance - Business Recorder](https://feedsoft.ai/events/7640-china-cuts-banks-fx-reserve-ratio-to-support-yuan-business-and-finance-business.md) | +0.8% | +1.4% |
| DXY | 2017-08-28 | [China's Central Bank Is Embracing a Supercharged Yuan - Bloomberg](https://feedsoft.ai/events/10856-china-s-central-bank-is-embracing-a-supercharged-yuan-bloomberg.md) | -0.3% | -0.0% |
| DXY | 2018-06-22 | [Oil rallies over 3% as dollar dips, OPEC's meeting proceeds](https://feedsoft.ai/events/11574-oil-rallies-over-3-as-dollar-dips-opec-s-meeting-proceeds.md) | +0.2% | -0.3% |
| DXY | 2018-08-21 | ['I'm not thrilled': Trump blasts Fed for raising interest rates, not doing enough to help him boost economy \| Financial Post](https://feedsoft.ai/events/63699-i-m-not-thrilled-trump-blasts-fed-for-raising-interest-rates-not-doing-enough.md) | -0.9% | -0.5% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2026-03-10/yuan-advances-as-pboc-strengthens-fixing-by-most-since-january

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