# Chinese yuan rebounds on Shanghai reopening hopes  - Benzinga

> 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.

- Date: 2022-05-31 · published 2022-05-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/41603-chinese-yuan-rebounds-on-shanghai-reopening-hopes-benzinga
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Shanghai reopening hopes support Chinese demand expectations for imports, but the currency move is small and the story mainly describes a short-term rebound.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-11-22 | [Chinese Yuan Bounce Overdone](https://feedsoft.ai/events/12029-chinese-yuan-bounce-overdone.md) | -0.1% | +0.0% |
| USDCNY | 2020-06-30 | [Chinese Yuan Gains on Strong PMI Readings, PBoC Easing](https://feedsoft.ai/events/52830-chinese-yuan-gains-on-strong-pmi-readings-pboc-easing.md) | -0.9% | -1.1% |
| USDCNY | 2018-02-01 | [Happy Chinese Yuan \| snaps \| ING THINK](https://feedsoft.ai/events/66715-happy-chinese-yuan-snaps-ing-think.md) | -0.3% | +1.2% |
| USDCNY | 2024-07-25 | [Chinese yuan strengthens sharply as Beijing pushes back for now - The Pound Hub](https://feedsoft.ai/events/29510-chinese-yuan-strengthens-sharply-as-beijing-pushes-back-for-now-the-pound-hub.md) | -0.6% | -1.8% |
| USDCNY | 2018-04-01 | [Regulator warns Chinese not to ‘gamble’ on yuan exchange rate \| South China Morning Post](https://feedsoft.ai/events/65714-regulator-warns-chinese-not-to-gamble-on-yuan-exchange-rate-south-china-morning.md) | +0.5% | +1.0% |

## Sources

- benzinga.com: https://www.benzinga.com/22/05/27480353/chinese-yuan-rebounds-on-shanghai-reopening-hopes

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