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The yuan fell to its lowest level in nearly 15 years as investors sold Chinese assets following Xi Jinping's reshuffle of Communist Party leaders, which raised concerns about his tighter grip on power. Investors are reacting to political uncertainty as well as the economy.
A sharply weaker yuan raises the cost of dollar-priced feed imports for China and can dent its purchasing power for soybeans and corn. Political uncertainty also adds to doubts about Chinese feed demand.
cnn.comLaura HeOct 25, 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.
