Loading…
Japanese, Malaysian and Chinese officials pushed back against excessive currency moves after the yen, ringgit and yuan hit seven-month lows against the dollar. China also set the yuan fix stronger than expected three times in one week.
Stronger Asian currencies would lower local import costs for feed ingredients, but the dollar's underlying strength limits any relief for dollar-priced grain and meal. Currency intervention is a short-term factor.
cnbc.comClement TanJun 29, 2023Not enough comparable past events yet for a historical read.
After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
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.
