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The yuan has fallen about 11% against the dollar this year and is heading for its biggest annual drop since 1994. Investors are betting China may widen the currency's tight trading band from 2% to 3% in 2023 after heavy volatility in October.
Expected band widening would increase currency volatility for Chinese importers, raising hedging costs and adding uncertainty to dollar-denominated feed purchases.
businesstimes.com.sgNov 30, 2022After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
