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A new paper from the Centre for Economic Policy and Research, authored by Barry Eichengreen and Camille Macaire, argues China must promise a stable dollar-conversion rate and accept dollar payments for exports to boost yuan adoption. The authors say the yuan will not overtake the dollar as the main reserve currency.
This is a research paper on long-term reserve currency status with no near-term effect on feed commodity supply, demand or prices.
markets.businessinsider.comPhil RosenJul 25, 2022After 138 past policy events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (47% higher; middle half -0.4% to +0.4%), and -0.1% 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.
