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The yuan weakened against the dollar on February 22 as investors sought safe-haven currencies after Putin ordered troops into breakaway eastern Ukraine regions. The PBOC midpoint was set at 6.3487 per dollar, weaker than the prior fix.
Safe-haven flows and currency moves affect China's import purchasing power for feed commodities, but the move was small and mainly sentiment-driven.
business-standard.comReutersFeb 22, 2022After 14 past bullish geopolitics events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (36% higher; middle half -0.4% to +0.2%), and -0.5% 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.
