# China’s yuan weakens as Fed looms, property, COVID weigh - Markets - Business Recorder

> The yuan slipped as weak credit demand pushed interbank rates lower and investors awaited a Fed rate hike. The PBOC set the midpoint at 6.7731 per dollar, weaker than the prior fix, and property sector worries also weighed. China's industrial profits returned to growth in June, up 0.8% year on year.

- Date: 2022-07-27 · published 2022-07-27T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/40700-china-s-yuan-weakens-as-fed-looms-property-covid-weigh-markets-business-recorder
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan against the dollar signals currency-side pressure that can affect import costs for China's feed buyers and the global price competitiveness of US feed exports. The story is mostly about currency and macro conditions rather than a direct grain driver.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-11-16 | [China’s yuan weakens on persistent property sector woes - Markets - Business Recorder](https://feedsoft.ai/events/12025-china-s-yuan-weakens-on-persistent-property-sector-woes-markets-business.md) | -1.3% | -1.9% |
| USDCNY | 2026-06-18 | [China's yuan weakens to one-week low on strong dollar, Fed hike bets weigh - Markets - Business Recorder](https://feedsoft.ai/events/8413-china-s-yuan-weakens-to-one-week-low-on-strong-dollar-fed-hike-bets-weigh.md) | +0.6% | +0.3% |
| USDCNY | 2023-03-02 | [China’s yuan weakens on Fed official’s hawkish comments - Markets - Business Recorder](https://feedsoft.ai/events/37094-china-s-yuan-weakens-on-fed-official-s-hawkish-comments-markets-business.md) | +1.2% | +0.3% |
| USDCNY | 2024-11-12 | [China’s yuan weakens to 3-1/2-month low as Trump tariff threat weighs - Markets - Business Recorder](https://feedsoft.ai/events/6701-china-s-yuan-weakens-to-3-1-2-month-low-as-trump-tariff-threat-weighs-markets.md) | +0.8% | +1.0% |
| USDCNY | 2023-09-25 | [Australia, NZ dollars under pressure as China property concerns weigh - Markets - Business Recorder](https://feedsoft.ai/events/34384-australia-nz-dollars-under-pressure-as-china-property-concerns-weigh-markets.md) | -0.0% | +0.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40188427

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