# Diverging rates outlook has China's yuan eying 2022 lows

> The yuan fell past the 7-per-dollar level and hit a six-month low after surprise Chinese rate cuts. China's post-pandemic recovery is faltering amid weak domestic and foreign demand. The gap between China and US 10-year yields is at its widest since November.

- Date: 2023-06-14 · published 2023-06-14T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/35712-diverging-rates-outlook-has-china-s-yuan-eying-2022-lows
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Yield gaps and a weaker yuan make dollar-priced imports more expensive for China, a key feed and oilseed buyer, which can weigh on import demand and prices.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-02-13 | [China's yuan hits 5-week low, South Korea export data darkens outlook](https://feedsoft.ai/events/37550-china-s-yuan-hits-5-week-low-south-korea-export-data-darkens-outlook.md) | +0.8% | +0.5% |
| USDCNY | 2022-09-28 | [China's yuan slides to 14-year low after US rate hikes \| AP News](https://feedsoft.ai/events/8604-china-s-yuan-slides-to-14-year-low-after-us-rate-hikes-ap-news.md) | -0.9% | -0.1% |
| USDCNY | 2024-06-27 | [China's Yuan Hits Seven-Month Low As Dollar Outflows Persist - Finimize](https://feedsoft.ai/events/30009-china-s-yuan-hits-seven-month-low-as-dollar-outflows-persist-finimize.md) | +0.0% | -0.5% |
| 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% |
| USDCNY | 2025-02-27 | [China steps up scrutiny of capital flows as yuan depreciates](https://feedsoft.ai/events/26288-china-steps-up-scrutiny-of-capital-flows-as-yuan-depreciates.md) | -0.1% | +0.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/asia/diverging-rates-outlook-has-chinas-yuan-eying-2022-lows-2023-06-14/

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