# China’s yuan rises on firmer-than-expected fix, stock market support - Markets - Business Recorder

> The yuan strengthened against the dollar after the PBOC set a firmer-than-expected daily midpoint and China's sovereign fund pledged more support for stock markets. The midpoint was 7.1082 per dollar, slightly weaker than the previous fix but still firmer than market estimates.

- Date: 2024-02-06 · published 2024-02-06T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/31899-china-s-yuan-rises-on-firmer-than-expected-fix-stock-market-support-markets
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan supports Chinese purchasing power for imported feed ingredients, but the move is small and driven by official management rather than fundamentals. It has little direct effect on grain or meal prices.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-06-30 | [China yuan firms as exporter dollar sales lend support - Markets - Business Recorder](https://feedsoft.ai/events/19035-china-yuan-firms-as-exporter-dollar-sales-lend-support-markets-business-recorder.md) | -0.0% | -0.3% |
| USDCNY | 2024-11-13 | [PBOC pulls China’s yuan off 3-month low with stronger-than-expected fix - Markets - Business Recorder](https://feedsoft.ai/events/6696-pboc-pulls-china-s-yuan-off-3-month-low-with-stronger-than-expected-fix-markets.md) | +0.1% | +0.4% |
| USDCNY | 2023-07-31 | [China’s yuan inches higher after better-than-expected PMI data - Markets - Business Recorder](https://feedsoft.ai/events/35259-china-s-yuan-inches-higher-after-better-than-expected-pmi-data-markets-business.md) | +0.3% | +2.0% |
| USDCNY | 2022-06-21 | [China’s yuan firm; signs of economic recovery, policy support help - Markets - Business Recorder](https://feedsoft.ai/events/41168-china-s-yuan-firm-signs-of-economic-recovery-policy-support-help-markets.md) | -0.4% | +0.4% |
| USDCNY | 2022-06-16 | [China’s yuan climbs to week high after expected Fed move - Markets - Business Recorder](https://feedsoft.ai/events/41169-china-s-yuan-climbs-to-week-high-after-expected-fed-move-markets-business.md) | -0.2% | +0.7% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40287551

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