◂ Event Timeline

Aug 24, 2026MACROChina

PBoC sets USD/CNY fixing above Reuters estimate, prompting yuan volatility and derivatives positioning

The PBOC set the USD/CNY fixing at 6.7841, weaker than the Reuters estimate of 6.7248, signaling it wants to limit rapid yuan appreciation. A research note recommended positioning for volatility in USD/CNY.

WHY IT MATTERS

The weaker-than-expected fix shows Beijing is capping yuan gains, which slightly supports the dollar against the yuan and has no clear effect on feed commodities.

AFFECTSChinese Yuan (CNY per USD)▲

SOURCE
vtmarkets.comAug 24, 2026

Price reaction & history

Chinese Yuan (CNY per USD)▲bullishSO FAR1d +0.0%5d +0.1%20d -0.4%

After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.

Jun 29, 2026PBoC sets USD/CNY fix above forecasts, hinting at managed yuan depreciation as growth concerns linger - VT Markets-0.0%
Mar 27, 2024As yuan skids, markets bet more depreciation is in store | Reuters+0.2%
Dec 11, 2023Yuan and equity markets fall on Moody’s Ratings downgrade-0.7%
Oct 25, 2022Exclusive: China FX regulator surveys banks about positioning as yuan plunges+0.6%
Oct 25, 2022China’s Yuan CNY USD Drops as PBOC Sets Fix at Weakest Level in 14 Years - Bloomberg+0.6%

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.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

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