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The yuan held steady on January 22 as the PBOC kept benchmark lending rates unchanged, matching expectations. Offshore yuan funding costs rose to their highest in nearly four months, making it costlier to short the currency.
Stable yuan and unchanged rates leave Chinese import costs for feed ingredients unchanged, with tight offshore liquidity adding only a minor cost factor.
brecorder.comReutersJan 22, 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.
