# China's yuan may slip further to aid economic recovery - analysts

> 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.

- Date: 2023-06-04 · published 2023-06-04T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/35717-china-s-yuan-may-slip-further-to-aid-economic-recovery-analysts
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

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.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-03-29 | [China’s yuan eases, market awaits March PMIs for clues on economic recovery - Markets - Business Recorder](https://feedsoft.ai/events/37087-china-s-yuan-eases-market-awaits-march-pmis-for-clues-on-economic-recovery.md) | +0.1% | +0.9% |
| USDCNY | 2020-02-03 | [China's yuan weakens but falling yen points to risk recovery](https://feedsoft.ai/events/5135-china-s-yuan-weakens-but-falling-yen-points-to-risk-recovery.md) | +1.2% | +0.6% |
| USDCNY | 2019-03-11 | [China's yuan 'may already be overvalued' and is set to slide: Nomura](https://feedsoft.ai/events/60330-china-s-yuan-may-already-be-overvalued-and-is-set-to-slide-nomura.md) | -0.1% | -0.0% |
| USDCNY | 2022-02-07 | [China could take further measures to rein in yuan- former regulator](https://feedsoft.ai/events/42932-china-could-take-further-measures-to-rein-in-yuan-former-regulator.md) | -0.1% | -0.7% |
| USDCNY | 2022-10-24 | [China stocks tumble as Xi's team fans economic concern; yuan weakens \| Reuters](https://feedsoft.ai/events/6930-china-stocks-tumble-as-xi-s-team-fans-economic-concern-yuan-weakens-reuters.md) | +0.1% | -1.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/asia/chinas-yuan-may-slip-further-aid-economic-recovery-analysts-2023-06-02/

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