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The onshore yuan closed at 6.3111 per dollar on February 28, its strongest close since April 2018, despite state banks buying dollars to slow gains. The PBOC midpoint was 6.3222, also the strongest since 2018.
A firmer yuan lowers the local-currency cost of dollar-priced feed imports, supporting Chinese buying power, while state intervention signals policy discomfort with the rally.
financialpost.comReutersFeb 28, 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.
