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The yuan steadied at a 3.5-month low on Tuesday after the PBOC set a firmer-than-expected midpoint fix of 7.1911 per dollar. Tighter cash conditions offshore also helped limit selling.
The currency has fallen about 1.8% since the US election on expectations of higher tariffs.
Official support for the yuan limits the currency's decline, which helps keep Chinese import costs from rising sharply. The tariff expectations behind the yuan weakness remain a bearish risk for US feed trade.
brecorder.comReutersNov 19, 2024After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), 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.
