# China's yuan weakens to 2-month low, with key 7-per-dollar level in sight  - The Business Times

> The yuan weakened to a more than two-month low against the dollar, approaching the psychologically important 7-per-dollar level. The move followed hawkish comments from Federal Reserve Chair Powell that lifted the dollar broadly.

- Date: 2023-03-08 · published 2023-03-08T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/37091-china-s-yuan-weakens-to-2-month-low-with-key-7-per-dollar-level-in-sight-the
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Dollar strength against the yuan raises the cost of US and Brazilian feed commodities for Chinese buyers, which can dampen import demand. The effect on prices is modest.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-10-26 | [China's yuan weakens on US dollar strength, set for 2nd weekly loss - The Business Times](https://feedsoft.ai/events/68677-china-s-yuan-weakens-on-us-dollar-strength-set-for-2nd-weekly-loss-the-business.md) | -0.5% | -0.5% |
| USDCNY | 2018-11-01 | [China’s Yuan Drops to a Decade-Low, 7 Per Dollar Now in Sight](https://feedsoft.ai/events/62762-china-s-yuan-drops-to-a-decade-low-7-per-dollar-now-in-sight.md) | -0.8% | -0.3% |
| USDCNY | 2023-06-21 | [China's yuan dips to 7-month low on lack of stimulus news, dollar strength \| The Business Standard](https://feedsoft.ai/events/11236-china-s-yuan-dips-to-7-month-low-on-lack-of-stimulus-news-dollar-strength-the.md) | +0.5% | +0.6% |
| USDCNY | 2024-11-12 | [China’s yuan weakens to 3-1/2-month low as Trump tariff threat weighs - Markets - Business Recorder](https://feedsoft.ai/events/6701-china-s-yuan-weakens-to-3-1-2-month-low-as-trump-tariff-threat-weighs-markets.md) | +0.8% | +1.0% |
| USDCNY | 2022-10-24 | [CNY/USD: China Yuan Weakens Past 7.3 Per Dollar, All-Time Low Since 2010 - Bloomberg](https://feedsoft.ai/events/6932-cny-usd-china-yuan-weakens-past-7-3-per-dollar-all-time-low-since-2010-bloomberg.md) | +0.1% | -1.0% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/international/chinas-yuan-weakens-2-month-low-key-7-dollar-level-sight

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