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China's central bank is dialing back its efforts to support the yuan as expectations build for a stronger currency. The onshore yuan (CNY) and offshore yuan (CNH) have each risen about 1% against the dollar in May, and the CNY touched around 7.16 per dollar, its strongest since November.
The gains follow new Chinese stimulus measures and a 90-day suspension of some US-China tariffs.
A firmer yuan lowers the cost of dollar-priced imports for Chinese buyers, which can support Chinese demand for feed commodities. The effect on grain prices is modest, though.
caixinglobal.comQing Na, Wang ShiyuMay 28, 2025After 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.
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.
