# What's behind the firmer-than-expected yuan fixings?

> 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.

- Date: 2023-07-05 · published 2023-07-05T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/35263-what-s-behind-the-firmer-than-expected-yuan-fixings
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Policy pushback against yuan weakness limits the import-cost pressure on dollar-priced feed ingredients, though the effect on grain prices is modest.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-09-06 | [Why China's central bank is shoring up the yuan](https://feedsoft.ai/events/12268-why-china-s-central-bank-is-shoring-up-the-yuan.md) | +0.4% | +3.1% |
| USDCNY | 2017-06-22 | [USD/CNY: Twist the yuan fixing to deter speculative outflow - ING — Octa](https://feedsoft.ai/events/70729-usd-cny-twist-the-yuan-fixing-to-deter-speculative-outflow-ing-octa.md) | -0.4% | -1.0% |
| USDCNY | 2026-03-13 | [China Strengthens Yuan Fixing for a Record 15th Straight Week - Bloomberg](https://feedsoft.ai/events/11465-china-strengthens-yuan-fixing-for-a-record-15th-straight-week-bloomberg.md) | +0.4% | -0.5% |
| USDCNY | 2022-09-27 | [Exclusive: China prepares to tweak yuan fixing process to slow its fall -source](https://feedsoft.ai/events/7210-exclusive-china-prepares-to-tweak-yuan-fixing-process-to-slow-its-fall-source.md) | -0.4% | +1.8% |
| USDCNY | 2023-01-06 | [China's cascade of economic support measures spurs yuan buying - The Business Times](https://feedsoft.ai/events/12764-china-s-cascade-of-economic-support-measures-spurs-yuan-buying-the-business.md) | -2.1% | -1.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/whats-behind-firmer-than-expected-yuan-fixings-2023-07-05/

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