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China's State Administration of Foreign Exchange said the economy and exchange rate flexibility would limit the impact of accelerated US tapering and expected Fed rate hikes. Officials cited sound fundamentals, foreign reserves and growing foreign inflows as buffers against capital outflows.
Official confidence in yuan stability reduces the chance of abrupt currency moves that would disrupt Chinese feed import costs, keeping demand conditions steady.
global.chinadaily.com.cnSHI JING in Shanghai, ZHOU LANXU in BeijingJan 22, 2022After 42 past neutral policy events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (50% higher; middle half -0.3% to +0.4%), 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.
