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The offshore yuan rose past 7 per dollar for the first time in 16 months on September 25 after China announced a package of economic support measures. A recent Federal Reserve rate cut also weakened the dollar.
A stronger yuan reflects improved Chinese growth sentiment and eases dollar costs for Chinese feed importers, a modest support for demand.
bloomberg.comBloomberg NewsSep 25, 2024After 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.
