# China’s yuan jumps to over 2-week high on Fed’s dovish tilt - Markets - Business Recorder

> China's yuan jumped to a more than two-week high against a weakening dollar after the Federal Reserve delivered a 25 basis point hike and Powell said disinflation had started. The PBOC set its midpoint at 6.7130, the strongest since July, and the onshore spot rate strengthened to about 6.71.

- Date: 2023-02-02 · published 2023-02-02T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/37551-china-s-yuan-jumps-to-over-2-week-high-on-fed-s-dovish-tilt-markets-business
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan lowers the local cost of dollar-priced imports, which can modestly support Chinese feed buying, while a softer dollar eases pressure on commodity prices.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-06-16 | [China’s yuan climbs to week high after expected Fed move - Markets - Business Recorder](https://feedsoft.ai/events/41169-china-s-yuan-climbs-to-week-high-after-expected-fed-move-markets-business.md) | -0.2% | +0.7% |
| USDCNY | 2025-10-27 | [China’s yuan jumps to one-month high on positive trade developments with US - Markets - Business Recorder](https://feedsoft.ai/events/22626-china-s-yuan-jumps-to-one-month-high-on-positive-trade-developments-with-us.md) | -0.1% | -0.3% |
| USDCNY | 2022-07-28 | [China’s yuan touches two-week high after Fed appears less hawkish than expected - Markets - Business Recorder](https://feedsoft.ai/events/40701-china-s-yuan-touches-two-week-high-after-fed-appears-less-hawkish-than-expected.md) | -0.0% | +1.5% |
| USDCNY | 2021-08-30 | [China’s yuan touches 3-week high - Business & Finance - Business Recorder](https://feedsoft.ai/events/45782-china-s-yuan-touches-3-week-high-business-and-finance-business-recorder.md) | -0.3% | -0.2% |
| USDCNY | 2021-01-21 | [Yuan rises to 1-week high on weaker dollar, tighter cash conditions - Markets - Business Recorder](https://feedsoft.ai/events/49362-yuan-rises-to-1-week-high-on-weaker-dollar-tighter-cash-conditions-markets.md) | +0.1% | +0.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40223952

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