# China’s yuan weakens on Fed official’s hawkish comments - Markets - Business Recorder

> The yuan weakened against the dollar after Minneapolis Fed President Kashkari said he favoured pushing rates above 5.4%. Markets were uncertain whether the Fed would hike by 25 or 50 basis points, and investors also awaited China's National People's Congress.

- Date: 2023-03-02 · published 2023-03-02T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/37094-china-s-yuan-weakens-on-fed-official-s-hawkish-comments-markets-business
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan raises the local cost of dollar-priced feed imports for Chinese buyers, which can slightly reduce import demand. The effect is limited and mainly on sentiment.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-05-08 | [China’s yuan slips as hawkish Fed comments boost dollar - Markets - Business Recorder](https://feedsoft.ai/events/5869-china-s-yuan-slips-as-hawkish-fed-comments-boost-dollar-markets-business.md) | +0.2% | +0.4% |
| USDCNY | 2022-07-27 | [China’s yuan weakens as Fed looms, property, COVID weigh - Markets - Business Recorder](https://feedsoft.ai/events/40700-china-s-yuan-weakens-as-fed-looms-property-covid-weigh-markets-business-recorder.md) | -0.2% | +1.3% |
| USDCNY | 2026-06-18 | [China's yuan weakens to one-week low on strong dollar, Fed hike bets weigh - Markets - Business Recorder](https://feedsoft.ai/events/8413-china-s-yuan-weakens-to-one-week-low-on-strong-dollar-fed-hike-bets-weigh.md) | +0.6% | +0.3% |
| USDCNY | 2023-11-16 | [China’s yuan weakens on persistent property sector woes - Markets - Business Recorder](https://feedsoft.ai/events/12025-china-s-yuan-weakens-on-persistent-property-sector-woes-markets-business.md) | -1.3% | -1.9% |
| USDCNY | 2023-12-11 | [China’s yuan weakens to 3-week low, hurt by deflation signs - Markets - Business Recorder](https://feedsoft.ai/events/6455-china-s-yuan-weakens-to-3-week-low-hurt-by-deflation-signs-markets-business.md) | -0.7% | +0.0% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40229189

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