Loading…
The China Foreign Exchange Trade System will raise the US dollar's weighting in its CFETS currency basket to 19.88% from 18.79% starting January 1. The euro's weighting will rise to 18.45% from 18.15%.
The basket change is a technical adjustment to the yuan's reference index and is unlikely to move grain or oilseed prices directly. It may slightly shift how the PBOC manages the yuan against major currencies.
reuters.comDec 31, 2021After 138 past policy events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (47% higher; middle half -0.4% to +0.4%), and -0.1% 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.
