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Beijing is reportedly keen to avoid sharp yuan gains even as domestic drivers such as a weak economy and capital flight persist. The yuan has been supported by expectations of Federal Reserve rate cuts weakening the dollar and by a rally in the Japanese yen.
Currency swings alter the yuan cost of imported feed grains and meal, so a managed yuan path affects Chinese purchasing appetite for soybeans and corn at the margin.
reuters.comAug 23, 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.
