
China's onshore yuan fell to a three-week low of 7.1369 per dollar, its weakest since September 5. It was on track for its biggest weekly loss since mid-July as broad dollar strength lifted the greenback.
Some state banks were reported buying dollars in the spot market.
A weaker yuan makes Chinese purchases of dollar-priced feed inputs slightly more expensive, which can weigh on import demand at the margin. The effect on grain prices is modest because the move is driven mainly by dollar strength.
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.
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.