◂ Event Timeline

Dec 30, 2025MACROChina

USDCNY: Yuan Climbs Past 7 Per Dollar Onshore for First Time Since 2023

The yuan rose past 7 per US dollar in the onshore market for the first time since 2023, helped by a softer dollar and year-end FX sales by Chinese exporters. The move followed an earlier breach of the level in the offshore market.

WHY IT MATTERS

A stronger yuan lowers the local cost of dollar-priced commodities such as soybeans, which can support Chinese import demand at the margin. Its direct price effect on feed markets is limited.

AFFECTSChinese Yuan (CNY per USD)▼

2 SOURCES
bloomberg.comBloombergJan 1, 2026
businesstimes.com.sgDec 30, 2025

Price reaction & history

Chinese Yuan (CNY per USD)▼bearishSO FAR1d -0.1%5d -0.3%20d -0.8%

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.

Nov 5, 2019China: Yuan surges past 7 per dollar for the first time since August-0.3%
Feb 1, 2026China Sets Yuan Fixing Stronger Than 7 for First Time Since 2023-0.2%
May 28, 2026China's onshore yuan finishes domestic session at 6.78 per dollar, strongest such close since Feb. 3, 2023 | MarketScreener-0.1%
Jul 8, 2020Chinese yuan climbs to four-month high, breaking 7 per US dollar - Global Times-0.1%
Dec 28, 2017China's yuan rises on US dollar weakness, on track for best year since 2008 - Times of News-1.0%

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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