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The yuan gained in the offshore market to 7.2525 per dollar after earlier falling to a four-month low of 7.2810. State-owned banks were reportedly selling dollars and the central bank set strong official guidance.
State support for the yuan limits the currency's downside, which keeps Chinese import costs for feed stable. The effect on feed prices is minor.
reuters.comKaren BrettellMar 25, 2024After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), 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.
