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The yuan rose to a 16-month high on September 25 and briefly crossed 7 per dollar offshore for the first time since May 2023. The move followed Beijing's biggest stimulus since the pandemic, with the PBOC midpoint fixing at 7.0202.
A firmer yuan and stronger Chinese policy support can lift import demand expectations, but a rapid currency move may also pressure exporters and Chinese purchasing decisions.
brecorder.comReutersSep 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.
