# Yuan May Hit Five Per Dollar on Carry-Trade Exit, Macquarie Says

> 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.

- Date: 2026-06-01 · published 2026-06-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/19482-yuan-may-hit-five-per-dollar-on-carry-trade-exit-macquarie-says
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

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.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-09-11 | [US-China trade war: Investors could soon favor yuan over dollar, former PBOC governor says](https://feedsoft.ai/events/63269-us-china-trade-war-investors-could-soon-favor-yuan-over-dollar-former-pboc.md) | -0.0% | +1.0% |
| USDCNY | 2021-11-09 | [China's yuan eases as traders await inflation data; HK dollar nears 7.8 \| Financial Post](https://feedsoft.ai/events/44271-china-s-yuan-eases-as-traders-await-inflation-data-hk-dollar-nears-7-8.md) | +0.0% | -0.7% |
| USDCNY | 2020-12-31 | [China state banks buy dollars to ease sharp yuan rally, traders say](https://feedsoft.ai/events/49863-china-state-banks-buy-dollars-to-ease-sharp-yuan-rally-traders-say.md) | -0.7% | -0.8% |
| USDCNY | 2018-11-14 | [US-China trade war: Tariffs spur record dollar-yuan currency trading](https://feedsoft.ai/events/62265-us-china-trade-war-tariffs-spur-record-dollar-yuan-currency-trading.md) | -0.1% | -1.1% |
| USDCNY | 2019-10-10 | [Yuan hits 3-week high, swings wildly on trade headlines \| Financial Post](https://feedsoft.ai/events/56822-yuan-hits-3-week-high-swings-wildly-on-trade-headlines-financial-post.md) | -0.8% | -2.2% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2026-05-26/yuan-may-hit-five-per-dollar-on-carry-trade-exit-macquarie-says

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