
The onshore yuan firmed to about 6.7200 per dollar despite a dollar rebound after hawkish Federal Reserve comments from Chairman Warsh. Exporters' dollar selling and the PBOC's mid-point guidance are supporting the currency.
A stronger yuan lowers the yuan cost of dollar-priced imports, which marginally affects China's buying power for US feed grains and meal.
After 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.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.