# China’s yuan touches two-week high after Fed appears less hawkish than expected - Markets - Business Recorder

> The yuan touched a two-week high after the Fed's 75-basis-point hike appeared less hawkish than expected, with Powell noting softening indicators. The PBOC lifted its midpoint fix by the most in six weeks to reflect broad dollar weakness.

- Date: 2022-07-28 · published 2022-07-28T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/40701-china-s-yuan-touches-two-week-high-after-fed-appears-less-hawkish-than-expected
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer yuan and softer dollar reduce China's import costs in dollar terms and can modestly support dollar-priced commodities. The effect on feed prices is limited and mostly reflects broad dollar moves.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-06-16 | [China’s yuan climbs to week high after expected Fed move - Markets - Business Recorder](https://feedsoft.ai/events/41169-china-s-yuan-climbs-to-week-high-after-expected-fed-move-markets-business.md) | -0.2% | +0.7% |
| USDCNY | 2023-07-31 | [China’s yuan inches higher after better-than-expected PMI data - Markets - Business Recorder](https://feedsoft.ai/events/35259-china-s-yuan-inches-higher-after-better-than-expected-pmi-data-markets-business.md) | +0.3% | +2.0% |
| USDCNY | 2021-08-30 | [China’s yuan touches 3-week high - Business & Finance - Business Recorder](https://feedsoft.ai/events/45782-china-s-yuan-touches-3-week-high-business-and-finance-business-recorder.md) | -0.3% | -0.2% |
| USDCNY | 2023-02-02 | [China’s yuan jumps to over 2-week high on Fed’s dovish tilt - Markets - Business Recorder](https://feedsoft.ai/events/37551-china-s-yuan-jumps-to-over-2-week-high-on-fed-s-dovish-tilt-markets-business.md) | +0.7% | +2.5% |
| USDCNY | 2024-02-06 | [China’s yuan rises on firmer-than-expected fix, stock market support - Markets - Business Recorder](https://feedsoft.ai/events/31899-china-s-yuan-rises-on-firmer-than-expected-fix-stock-market-support-markets.md) | -0.1% | -0.0% |
| DXY | 2022-06-16 | [China’s yuan climbs to week high after expected Fed move - Markets - Business Recorder](https://feedsoft.ai/events/41169-china-s-yuan-climbs-to-week-high-after-expected-fed-move-markets-business.md) | -0.7% | +1.5% |
| DXY | 2022-07-28 | [Dollar hits three-week low to yen as Fed’s Powell less hawkish than feared - Markets - Business Recorder](https://feedsoft.ai/events/40731-dollar-hits-three-week-low-to-yen-as-fed-s-powell-less-hawkish-than-feared.md) | -0.3% | +0.2% |
| DXY | 2026-07-31 | [Yuan rises to 1-1/2-month high - Markets - Business Recorder](https://feedsoft.ai/events/18572-yuan-rises-to-1-1-2-month-high-markets-business-recorder.md) | -0.1% | -1.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40188690

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