# China state media warn of two-way volatility for yuan in 2023

> Chinese state media warned that two-way volatility will remain the norm for the yuan in 2023. The yuan had gained 2.2% year to date and reversed much of 2022's annual loss. Commentary cited a shrinking current account surplus and a narrowing yield gap with the US as sources of depreciation pressure.

- Date: 2023-01-10 · published 2023-01-10T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/12765-china-state-media-warn-of-two-way-volatility-for-yuan-in-2023
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Two-sided risk means no clear directional signal for the yuan, so Chinese import purchasing power is hard to predict from currency alone. USD/CNY is roughly neutral.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-10-01 | [China’s Golden Week May Spur Volatility for Yuan at ‘Red Line’](https://feedsoft.ai/events/34330-china-s-golden-week-may-spur-volatility-for-yuan-at-red-line.md) | 0.0% | +0.2% |
| USDCNY | 2019-01-22 | [Volatility expected for Chinese yuan, as experts diverge on 2019 outlooks \| South China Morning Post](https://feedsoft.ai/events/61315-volatility-expected-for-chinese-yuan-as-experts-diverge-on-2019-outlooks-south.md) | -0.5% | -0.3% |
| USDCNY | 2017-05-29 | [China’s mysterious new yuan formula ‘no big quick fix for market volatility’ \| South China Morning Post](https://feedsoft.ai/events/71234-china-s-mysterious-new-yuan-formula-no-big-quick-fix-for-market-volatility.md) | -0.7% | -0.2% |
| USDCNY | 2024-08-30 | [China’s yuan volatility rising on interest rates, US presidential election: Goldman \| South China Morning Post](https://feedsoft.ai/events/29023-china-s-yuan-volatility-rising-on-interest-rates-us-presidential-election.md) | -0.1% | -1.2% |
| USDCNY | 2025-09-23 | [China’s Yuan Holds Firm After State Banks Step In - Finimize](https://feedsoft.ai/events/23116-china-s-yuan-holds-firm-after-state-banks-step-in-finimize.md) | +0.1% | +0.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/china-state-media-warn-two-way-volatility-yuan-2023-2023-01-10/

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