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The yuan fell to a one-year low as tariff risk and a stronger dollar weighed on it, while China's 10-year bond yields slid to a record. Bloomberg reports authorities tried to support the currency.
Yuan weakness driven by expected US tariffs raises the cost of dollar-priced imports for China and signals softer demand for US farm commodities.
bloomberg.comBloomberg NewsDec 3, 2024After 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.
