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The yuan slid to six-month lows against the dollar, trading near 7.0585 per dollar. Analysts expect further weakness due to disappointing data, wider yield gaps with the US, dividend outflows and foreign stock and bond selling.
The yuan has fallen more than 5% since January.
A weaker yuan makes dollar-denominated imports costlier for China, a leading feed and oilseed buyer, which can dampen import demand and weigh on prices.
reuters.comWinni ZhouJun 4, 2023After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), 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.
