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Bloomberg explains the tools the People's Bank of China uses to manage the yuan, centered on a daily reference rate set at 9:15 a.m. Beijing time, around which the currency can move 2% either way.
Fixings far stronger or weaker than market expectations are typically read as policy signals.
This is background on how Beijing steers the yuan, and it does not itself show a new move, so it has limited direct effect on feed-ingredient prices.
bloomberg.comBloomberg NewsApr 10, 2024After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.
