China’s yuan: will economic recovery lift currency out of the jungle after Fed effect fades?

After 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.

• Jan 3, 2023Yuan strengthens to a 4-month high on optimism over prospects of China’s post-Covid economic recovery | South China Morning Post-1.8%
• Nov 26, 2025China sets strongest yuan fix in over a year as Fed-cut bets rise | South China Morning Post-0.3%
• Sep 26, 2019China sells 10 billion yuan of bills in Hong Kong to protect currency ahead of National Day, US trade war talks | South China Morning Post+0.2%
• Feb 9, 2021Opinion | Why a stronger yuan is still in China’s best interests | South China Morning Post+0.1%
• Dec 5, 2022China’s yuan strengthens past 7 per US dollar amid easing of coronavirus curbs | South China Morning Post-0.9%