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The yuan rose to one-week highs on Monday on expectations that Shanghai will soon exit a two-month lockdown. The currency remains below its April level of about 0.157 per dollar, and analysts doubt the recovery will last.
Shanghai reopening hopes support Chinese demand expectations for imports, but the currency move is small and the story mainly describes a short-term rebound.
benzinga.comMark O'DonnellMay 31, 2022After 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.
