# China wrestles with a strong yuan as parliamentary meeting looms | Financial Post

> China's central bank is uneasy about the yuan's rise to its strongest level since 2018, setting weaker-than-expected daily fixings and state banks buying dollars to defend the 6.31 level. Authorities are expected to prioritize stability ahead of the annual parliamentary meeting.

- Date: 2022-03-02 · published 2022-03-02T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/42485-china-wrestles-with-a-strong-yuan-as-parliamentary-meeting-looms-financial-post
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Managed yuan strength reduces China's import cost of dollar-denominated commodities only modestly, so the effect on feed ingredient pricing is limited.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-04-21 | [China's yuan slides to 6-month low as tightening prospects help dollar \| Financial Post](https://feedsoft.ai/events/7337-china-s-yuan-slides-to-6-month-low-as-tightening-prospects-help-dollar.md) | +2.2% | +5.2% |
| USDCNY | 2020-02-20 | [Yuan falls to over 2-month low as China cuts lending benchmark \| Financial Post](https://feedsoft.ai/events/54795-yuan-falls-to-over-2-month-low-as-china-cuts-lending-benchmark-financial-post.md) | +0.3% | +0.7% |
| USDCNY | 2021-04-01 | [China's yuan dips as Biden infrastructure plan lifts dollar \| Financial Post](https://feedsoft.ai/events/47817-china-s-yuan-dips-as-biden-infrastructure-plan-lifts-dollar-financial-post.md) | -0.2% | -1.1% |
| USDCNY | 2020-11-09 | [For investors, China's yuan is the big winner from Biden victory \| Financial Post](https://feedsoft.ai/events/50363-for-investors-china-s-yuan-is-the-big-winner-from-biden-victory-financial-post.md) | -0.4% | -1.0% |
| USDCNY | 2020-11-09 | [China sets yuan midpoint at 28-month high after Joe Biden wins presidency \| Financial Post](https://feedsoft.ai/events/50361-china-sets-yuan-midpoint-at-28-month-high-after-joe-biden-wins-presidency.md) | -0.4% | -1.0% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/china-wrestles-with-a-strong-yuan-as-parliamentary-meeting-looms

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