# China's yuan edges higher on short, sharp liquidity squeeze offshore | Reuters

> 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.

- Date: 2023-08-24 · published 2023-08-24T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/34800-china-s-yuan-edges-higher-on-short-sharp-liquidity-squeeze-offshore-reuters
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

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.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-01-28 | [China's yuan inches up as tight liquidity pushes interbank rates higher \| Financial Post](https://feedsoft.ai/events/49361-china-s-yuan-inches-up-as-tight-liquidity-pushes-interbank-rates-higher.md) | -0.3% | -0.4% |
| USDCNY | 2017-01-05 | [China’s Epic Short Squeeze Is Back as Yuan Rally Burns Bears - Bloomberg](https://feedsoft.ai/events/10251-china-s-epic-short-squeeze-is-back-as-yuan-rally-burns-bears-bloomberg.md) | +0.1% | -1.0% |
| USDCNY | 2023-06-27 | [China steps in to stem yuan slide, shore up confidence \| Reuters](https://feedsoft.ai/events/10488-china-steps-in-to-stem-yuan-slide-shore-up-confidence-reuters.md) | +0.0% | -1.4% |
| USDCNY | 2021-10-19 | [China's yuan jumps to 4-month high as property concerns ebb \| Reuters](https://feedsoft.ai/events/7481-china-s-yuan-jumps-to-4-month-high-as-property-concerns-ebb-reuters.md) | -0.7% | -0.6% |
| USDCNY | 2017-01-05 | [China’s offshore yuan surges most against dollar in a year](https://feedsoft.ai/events/73180-china-s-offshore-yuan-surges-most-against-dollar-in-a-year.md) | +0.1% | -1.0% |

## Sources

- reuters.com: https://www.reuters.com/article/markets/currencies/chinas-yuan-edges-higher-on-short-sharp-liquidity-squeeze-offshore-idUSL1N3A509G/

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