Yuan hits strongest in more than a year as flows offset fundamentals

After 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.

• Oct 29, 2019PBOC set the onshore yuan at its strongest in 2 months-0.5%
• Jul 30, 2017China's yuan firms on stronger fixing, set for the 3rd winning month - The Business Times-0.1%
• Nov 26, 2025China sets strongest yuan fix in over a year as Fed-cut bets rise | South China Morning Post-0.3%
• Sep 21, 2017China's yuan inches up as post-Fed US dollar rally fades - The Business Times+1.1%
• Sep 25, 2024Chinese yuan hits strongest level against dollar in over 16 months as investors assess PBOC stimulus-0.2%

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

• Nov 26, 2020Euro rises to near 3-month high as US dollar falls - The Business Times-1.2%
• Jan 23, 2018China’s yuan edges up on stronger fixing, vulnerable dollar | Business News - The Indian Express-0.9%
• Feb 7, 2018US dollar will stay weak if China has its way: Morgan Stanley - The Business Times+0.2%
• Jul 31, 2025South-east Asia's key currencies set to strengthen in H2 2025 despite rate cuts - The Business Times-0.7%
• Oct 30, 2019Fed cuts rates for the third time as US economy slows | CNN Business+0.1%