# Yuan firms on prospects for US rate cuts - Business & Finance - Business Recorder

> China's yuan strengthened to its firmest level against the dollar in five months on Wednesday. The move followed comments from Fed Governor Christopher Waller that interest rate cuts could begin within months if inflation falls, which fueled expectations that US rates have peaked. The People's Bank of China also set a firmer midpoint fix.

- Date: 2023-11-29 · published 2023-11-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/33389-yuan-firms-on-prospects-for-us-rate-cuts-business-and-finance-business-recorder
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and firmer yuan reduce pressure on dollar-denominated commodity prices and on China's import costs, and they signal that US rate expectations are shifting. Feed buyers may see modest relief in the dollar-linked grain complex.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-08-30 | [China’s yuan touches 3-week high - Business & Finance - Business Recorder](https://feedsoft.ai/events/45782-china-s-yuan-touches-3-week-high-business-and-finance-business-recorder.md) | -0.3% | -0.2% |
| USDCNY | 2026-08-31 | [China's yuan firms despite dollar rebound - Markets - Business Recorder](https://feedsoft.ai/events/18093-china-s-yuan-firms-despite-dollar-rebound-markets-business-recorder.md) | -0.2% | -0.2% |
| USDCNY | 2026-05-25 | [China's yuan advances to 3-year high as investors weigh prospects of US-Iran deal - Markets - Business Recorder](https://feedsoft.ai/events/19484-china-s-yuan-advances-to-3-year-high-as-investors-weigh-prospects-of-us-iran.md) | -0.4% | -0.1% |
| USDCNY | 2023-06-27 | [Asian currencies firm on yuan recovery, stocks mixed - Markets - Business Recorder](https://feedsoft.ai/events/10492-asian-currencies-firm-on-yuan-recovery-stocks-mixed-markets-business-recorder.md) | +0.0% | -1.4% |
| USDCNY | 2024-02-06 | [China’s yuan rises on firmer-than-expected fix, stock market support - Markets - Business Recorder](https://feedsoft.ai/events/31899-china-s-yuan-rises-on-firmer-than-expected-fix-stock-market-support-markets.md) | -0.1% | -0.0% |
| DXY | 2021-08-27 | [Pound hits over 1-week high - Business & Finance - Business Recorder](https://feedsoft.ai/events/45804-pound-hits-over-1-week-high-business-and-finance-business-recorder.md) | -0.9% | -0.0% |
| DXY | 2024-03-01 | [Asian currencies tepid after soft US inflation - Business & Finance - Business Recorder](https://feedsoft.ai/events/31485-asian-currencies-tepid-after-soft-us-inflation-business-and-finance-business.md) | -0.8% | -0.1% |
| DXY | 2024-10-31 | [Dollar down against major currencies - Business & Finance - Business Recorder](https://feedsoft.ai/events/28051-dollar-down-against-major-currencies-business-and-finance-business-recorder.md) | +0.7% | +1.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40275899

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