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Global investment banks expect the yuan to recover in the second half of 2024. The currency had weakened as much as 6.14% against the dollar this year before recovering much of those losses.
Expectations of a stronger yuan would lower China's dollar cost of imported feed grains and meal, supporting Chinese import demand over the coming year.
reuters.comDec 7, 2023After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
