# Yuan hovers at 5-month high ahead of US CPI; FX demand for tourism may pick up | Reuters

> China's yuan hovered near a five-month high against the dollar, as investors awaited U.S. inflation data. Border reopening optimism and seasonal demand supported the currency. Traders said the Fed's tightening path would be a key driver going forward.

- Date: 2023-01-12 · published 2023-01-12T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/37984-yuan-hovers-at-5-month-high-ahead-of-us-cpi-fx-demand-for-tourism-may-pick-up
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan lowers the cost of dollar-priced imports for China, which can support Chinese demand for feed inputs such as soybeans and corn at the margin. The effect on grain prices is modest.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-10-26 | [China’s yuan climbs to fresh 4-year high ahead of key policy meetings By Reuters](https://feedsoft.ai/events/17257-china-s-yuan-climbs-to-fresh-4-year-high-ahead-of-key-policy-meetings-by-reuters.md) | -0.2% | — |
| USDCNY | 2021-10-19 | [China's yuan jumps to 4-month high as property concerns ebb \| Reuters](https://feedsoft.ai/events/7481-china-s-yuan-jumps-to-4-month-high-as-property-concerns-ebb-reuters.md) | -0.7% | -0.6% |
| USDCNY | 2019-01-15 | [Hopes for trade talks move yuan to 6-month high - Nikkei Asia](https://feedsoft.ai/events/61314-hopes-for-trade-talks-move-yuan-to-6-month-high-nikkei-asia.md) | +0.7% | +0.2% |
| USDCNY | 2026-09-21 | [Yuan hits fresh multi-year peak as PBOC eases curb ahead of Trump-Xi summit \| Reuters](https://feedsoft.ai/events/17679-yuan-hits-fresh-multi-year-peak-as-pboc-eases-curb-ahead-of-trump-xi-summit.md) | +0.2% | -0.3% |
| USDCNY | 2023-01-10 | [China's yuan hits fresh five-month high, dollar demand caps gains](https://feedsoft.ai/events/12768-china-s-yuan-hits-fresh-five-month-high-dollar-demand-caps-gains.md) | +0.0% | +0.3% |

## Sources

- reuters.com: https://www.reuters.com/article/markets/currencies/yuan-hovers-at-5-month-high-ahead-of-us-cpi-fx-demand-for-tourism-may-pick-up-idUSL1N33X07F/

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