# Wall Street Sees No End to Yuan (CNY USD) Losses Despite China Pushback - Bloomberg

> The offshore yuan weakened past 7.30 per dollar the week of August 14, near last year's low. The PBOC responded with verbal warnings and its largest daily reference rate bias on record.

- Date: 2023-08-22 · published 2023-08-22T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/34805-wall-street-sees-no-end-to-yuan-cny-usd-losses-despite-china-pushback-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Persistent yuan weakness and Chinese intervention raise uncertainty about Chinese import capacity for feed commodities.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-01-16 | [Yuan Top Forecaster Sees No End to Losses as China Economy Slows - Bloomberg](https://feedsoft.ai/events/11878-yuan-top-forecaster-sees-no-end-to-losses-as-china-economy-slows-bloomberg.md) | -0.6% | -0.5% |
| USDCNY | 2024-04-29 | [CNY USD: Yuan Devaluation Debate Surfaces as Way to Support China Economy - Bloomberg](https://feedsoft.ai/events/30953-cny-usd-yuan-devaluation-debate-surfaces-as-way-to-support-china-economy.md) | -0.1% | -0.1% |
| USDCNY | 2022-10-24 | [CNY/USD: China Yuan Weakens Past 7.3 Per Dollar, All-Time Low Since 2010 - Bloomberg](https://feedsoft.ai/events/6932-cny-usd-china-yuan-weakens-past-7-3-per-dollar-all-time-low-since-2010-bloomberg.md) | +0.1% | -1.0% |
| USDCNY | 2024-12-03 | [CNY/USD: China’s Yuan Falls to One-Year Low on Tariff Risk, Dollar Gains - Bloomberg](https://feedsoft.ai/events/27168-cny-usd-china-s-yuan-falls-to-one-year-low-on-tariff-risk-dollar-gains-bloomberg.md) | -0.2% | +0.4% |
| USDCNY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -1.2% | +0.3% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-08-22/wall-street-sees-no-end-to-yuan-losses-despite-beijing-pushback

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