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Macquarie says the yuan could strengthen to as much as 5 per dollar if local firms unwind large dollar holdings, triggering a reversal in capital flows. The economists add that a stronger yuan would likely reflect broad dollar weakness unless exports falter and Beijing expands stimulus.
A sharp yuan rally would make Chinese purchases of imported feed ingredients more expensive in dollar terms, which could weigh on demand. The forecast is a conditional scenario rather than a current move.
bloomberg.comIris OuyangJun 1, 2026After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% 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.
