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The yuan edged higher against the dollar as the PBOC set the midpoint at stronger-than-expected levels, while the offshore market faced a short liquidity squeeze. Onshore spot traded near 7.27 per dollar.
Central bank management of the yuan affects the cost of Chinese imports of feed commodities, so currency moves can shift demand expectations for soybeans and meal.
reuters.comAug 24, 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.
