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The dollar fell in choppy trading after reports that Trump's aides were debating tariff plans. The yuan strengthened 0.16% to 7.348 per dollar, after the dollar hit a 26-month high against it the prior week.
China is seen as a major target of Trump's tariffs.
Tariff uncertainty on China drives currency swings that affect the relative competitiveness of US versus South American feed grains and soybeans in Chinese buying decisions.
reuters.comJan 6, 2025After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 362 past bearish macro events, USDCNY 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.
