# China's yuan steadies ahead of Fed decision | Kitco News

> China's yuan steadied against the dollar ahead of the Federal Reserve's policy meeting, trading in a narrow range. The PBOC set its midpoint at a two-week high. Traders said recovery signs in China's economy supported the currency.

- Date: 2023-01-31 · published 2023-01-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/37985-china-and-apos-s-yuan-steadies-ahead-of-fed-decision-kitco-news
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Currency moves here are routine and only marginally affect feed import costs. Fed-driven dollar strength would matter more for commodity prices broadly.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-02-01 | [China’s yuan steadies ahead of Fed decision - Markets - Business Recorder](https://feedsoft.ai/events/37554-china-s-yuan-steadies-ahead-of-fed-decision-markets-business-recorder.md) | +0.5% | +1.7% |
| USDCNY | 2026-04-29 | [China’s Yuan Holds Steady As Markets Wait On Fed Signals - Finimize](https://feedsoft.ai/events/19951-china-s-yuan-holds-steady-as-markets-wait-on-fed-signals-finimize.md) | -0.1% | -0.9% |
| USDCNY | 2024-11-04 | [Yuan Reaches New Heights Ahead Of Key US Election And Chinese Meetings - Finimize](https://feedsoft.ai/events/6699-yuan-reaches-new-heights-ahead-of-key-us-election-and-chinese-meetings-finimize.md) | +0.8% | +2.3% |
| USDCNY | 2018-11-07 | [China's reserves fall, suggesting Beijing propping up yuan \| AP News](https://feedsoft.ai/events/62266-china-s-reserves-fall-suggesting-beijing-propping-up-yuan-ap-news.md) | +0.5% | -0.6% |
| USDCNY | 2024-07-23 | [China’s yuan steady following rate cuts, eyes on U.S. data - The Pound Hub](https://feedsoft.ai/events/29507-china-s-yuan-steady-following-rate-cuts-eyes-on-u-s-data-the-pound-hub.md) | -0.2% | -1.8% |

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-01-31/chinaaposs-yuan-steadies-ahead-fed-decision

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