# China’s yuan ‘trading like a safe haven currency’ as Ukraine crisis roils markets | South China Morning Post

> The yuan has held near a four-year high after Russia's attack on Ukraine, falling less than peers such as the euro and won. Analysts describe it as trading like a safe-haven currency during the crisis.

- Date: 2022-02-24 · published 2022-02-24T12:00:00.000Z
- Category: geopolitics · region China · magnitude low
- Page: https://feedsoft.ai/events/42929-china-s-yuan-trading-like-a-safe-haven-currency-as-ukraine-crisis-roils-markets
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Yuan resilience supports China's dollar-denominated feed import demand, while broad global risk-off may weigh on commodity currencies and stocks.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2020-05-29 | [China steps in to defend the yuan, as US tensions and Hong Kong uncertainty send currency tumbling \| South China Morning Post](https://feedsoft.ai/events/53376-china-steps-in-to-defend-the-yuan-as-us-tensions-and-hong-kong-uncertainty-send.md) | -0.5% | -1.0% |
| USDCNY | 2026-01-23 | [China sets yuan at strongest rate in years as Greenland furore affects US dollar \| South China Morning Post](https://feedsoft.ai/events/21281-china-sets-yuan-at-strongest-rate-in-years-as-greenland-furore-affects-us.md) | -0.3% | -1.0% |
| USDCNY | 2026-06-15 | [China's yuan hits three-year high as dollar eases after US-Iran peace deal \| MarketScreener](https://feedsoft.ai/events/8411-china-s-yuan-hits-three-year-high-as-dollar-eases-after-us-iran-peace-deal.md) | +0.2% | +0.1% |
| USDCNY | 2025-01-20 | [China’s yuan rises to over two-week high on positive US-China talk, better economic data - Markets - Business Recorder](https://feedsoft.ai/events/9601-china-s-yuan-rises-to-over-two-week-high-on-positive-us-china-talk-better.md) | -1.0% | -0.6% |
| USDCNY | 2026-06-15 | [China’s Yuan Hit A Three-Year High As The Dollar Slipped - Finimize](https://feedsoft.ai/events/8414-china-s-yuan-hit-a-three-year-high-as-the-dollar-slipped-finimize.md) | +0.2% | +0.1% |

## Sources

- scmp.com: https://www.scmp.com/economy/economic-indicators/article/3168226/chinas-yuan-trading-safe-haven-currency-ukraine-crisis

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