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The yuan's central parity rate strengthened 53 pips to 7.0943 against the dollar on Tuesday. The PBOC also conducted a 5 billion yuan three-month central bank bills swap at a fixed 0.1 percent rate to add liquidity.
A firmer official fix and liquidity injection reduce near-term currency stress on Chinese importers of feed commodities. The impact on grain and oilseed prices is marginal.
chinadaily.com.cnMar 27, 2024After 169 past neutral macro events, USDCNY 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.
