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The People's Bank of China has intervened over the past year to restrain the yuan's rise despite efforts to make its exchange rate more market-oriented. Washington complains that a weak yuan makes Chinese exports cheap and widens the trade surplus.
Currency intervention and trade tensions shape the cost and flow of China's imports, including soybeans and feed ingredients. The direct price effect on commodities is modest.
apnews.comJoe McdonaldDec 9, 2021After 42 past neutral policy events, USDCNY 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.
