Loading…
China's yuan hovered near a five-month low of 7.2478 per dollar on April 29, pressured by higher US Treasury yields, a weak yen and outflows from the stock market. The People's Bank of China set a firmer-than-expected midpoint to slow the decline.
A persistently weak yuan raises the cost of dollar-denominated feed imports for Chinese buyers, which can dampen import demand for soybeans and meal at the margin.
brecorder.comReutersApr 28, 2024After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
