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The yuan has appreciated to its strongest level in nearly four years on robust Chinese exports and capital inflows, while the ruble crashed amid sanctions over Russia's invasion of Ukraine. Experts expect the yuan to gain more international users due to the sanctions.
A stronger yuan reduces China's dollar-denominated import costs for feed commodities at the margin, while sanctions on Russia shift trade and payment flows.
asia.nikkei.comTAKESHI KIHARA, Nikkei staff writerMar 2, 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.
