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The yuan has lost nearly 5% against the dollar this year, and the central bank has begun fixing the daily trading band at stronger-than-expected levels in recent weeks. Analysts attribute this to the counter-cyclical factor, a formula tweak giving authorities more latitude.
Policy pushback against yuan weakness limits the import-cost pressure on dollar-priced feed ingredients, though the effect on grain prices is modest.
reuters.comGeorgina LeeJul 5, 2023After 50 past bearish policy events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (46% higher; middle half -0.4% to +0.4%), and -0.0% 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.
