# China’s yuan hovers around 4-month highs on firmer official guidance fix - Markets - Business Recorder

> China's yuan hovered near a four-month high against the dollar on Thursday, supported by a firmer PBOC midpoint fixing. Trading was thin because overseas markets were closed for the Thanksgiving holiday. Analysts said the authorities have used dollar weakness to guide the fix stronger.

- Date: 2023-11-23 · published 2023-11-23T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/33391-china-s-yuan-hovers-around-4-month-highs-on-firmer-official-guidance-fix
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan on official guidance signals Beijing's preference for currency stability, which can support Chinese import purchasing power. The effect on feed commodity prices is limited because the move is driven by policy and a weaker dollar.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 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% |
| USDCNY | 2020-07-31 | [Yuan closes trade at 4-1/2-month high - Markets - Business Recorder](https://feedsoft.ai/events/52323-yuan-closes-trade-at-4-1-2-month-high-markets-business-recorder.md) | -0.8% | -1.6% |
| USDCNY | 2023-02-02 | [China’s yuan jumps to over 2-week high on Fed’s dovish tilt - Markets - Business Recorder](https://feedsoft.ai/events/37551-china-s-yuan-jumps-to-over-2-week-high-on-fed-s-dovish-tilt-markets-business.md) | +0.7% | +2.5% |
| 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% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40274769

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