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The rupee hit a seven-week high of 80.52 per dollar on Monday, recovering more than 3% from a record low of 83.29 set in mid-October. BofA said Asian currencies were being repriced higher after softer US inflation and China's reopening, and it raised its forecasts for several Asian currencies, including the yuan.
A firmer Asian currency bloc reduces import costs for oil- and grain-importing Asian economies, which can support demand for feed ingredients over time.
reuters.comNimesh VoraDec 1, 2022Not enough comparable past events yet for a historical read.
After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
