# Yuan hits strongest in more than a year as flows offset fundamentals - The Business Times

> The offshore yuan rose 0.3% to 7.0752 per dollar, its strongest level since June 2023, and is up about 2% in August. Traders cited expectations of Fed rate cuts, corporate dollar selling and unwinding of yuan-funded carry trades.

- Date: 2024-08-30 · published 2024-08-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/29024-yuan-hits-strongest-in-more-than-a-year-as-flows-offset-fundamentals-the
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer yuan on Fed-driven dollar weakness improves Chinese import purchasing power, a modest support for demand for US feed commodities.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2019-10-29 | [PBOC set the onshore yuan at its strongest in 2 months](https://feedsoft.ai/events/56809-pboc-set-the-onshore-yuan-at-its-strongest-in-2-months.md) | -0.5% | -0.5% |
| USDCNY | 2017-07-30 | [China's yuan firms on stronger fixing, set for the 3rd winning month - The Business Times](https://feedsoft.ai/events/70191-china-s-yuan-firms-on-stronger-fixing-set-for-the-3rd-winning-month-the.md) | -0.1% | -1.3% |
| USDCNY | 2025-11-26 | [China sets strongest yuan fix in over a year as Fed-cut bets rise \| South China Morning Post](https://feedsoft.ai/events/22172-china-sets-strongest-yuan-fix-in-over-a-year-as-fed-cut-bets-rise-south-china.md) | -0.3% | -1.0% |
| USDCNY | 2017-09-21 | [China's yuan inches up as post-Fed US dollar rally fades - The Business Times](https://feedsoft.ai/events/69189-china-s-yuan-inches-up-as-post-fed-us-dollar-rally-fades-the-business-times.md) | +1.1% | +0.6% |
| USDCNY | 2024-09-25 | [Chinese yuan hits strongest level against dollar in over 16 months as investors assess PBOC stimulus](https://feedsoft.ai/events/28553-chinese-yuan-hits-strongest-level-against-dollar-in-over-16-months-as-investors.md) | -0.2% | +1.3% |
| DXY | 2020-11-26 | [Euro rises to near 3-month high as US dollar falls - The Business Times](https://feedsoft.ai/events/50370-euro-rises-to-near-3-month-high-as-us-dollar-falls-the-business-times.md) | -1.2% | -1.5% |
| DXY | 2018-01-23 | [China’s yuan edges up on stronger fixing, vulnerable dollar \| Business News - The Indian Express](https://feedsoft.ai/events/11862-china-s-yuan-edges-up-on-stronger-fixing-vulnerable-dollar-business-news-the.md) | -0.9% | -0.4% |
| DXY | 2018-02-07 | [US dollar will stay weak if China has its way: Morgan Stanley - The Business Times](https://feedsoft.ai/events/7107-us-dollar-will-stay-weak-if-china-has-its-way-morgan-stanley-the-business-times.md) | +0.2% | +0.7% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/international/yuan-hits-strongest-more-year-flows-offset-fundamentals

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.