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China's yuan briefly weakened past the 6.4 per dollar level on Thursday to its weakest since October 20, as corporates and banks bought dollars. Renewed US-China tensions and worries about Chinese property developers' debt weighed on the currency.
A weaker yuan modestly lowers the cost of Chinese imports priced in dollars, but the move is small and has little direct effect on feed grain or meal prices.
financialpost.comReutersOct 28, 2021After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
