# Why Chinese yuan shrugs off the fears over Fed's taper plan this time - CGTN

> The onshore yuan rose about 1 percent in October and broke the 6.40 level against the dollar, heading for its best month since May. The author attributes the gain to strong export growth and a record trade surplus, and argues the currency can keep rising ahead of the Fed's expected taper announcement.

- Date: 2021-10-26 · published 2021-10-26T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/44777-why-chinese-yuan-shrugs-off-the-fears-over-fed-s-taper-plan-this-time-cgtn
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan supported by strong trade can raise China's purchasing power for imports, but this opinion piece describes a currency trend and does not signal a direct change in feed commodity demand.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-11-16 | [Is a Chinese yuan appreciation on the way? - CGTN](https://feedsoft.ai/events/62267-is-a-chinese-yuan-appreciation-on-the-way-cgtn.md) | +0.1% | -0.6% |
| USDCNY | 2026-01-29 | [Chinese Yuan Breaches 7 Versus US Dollar for Second Time This Year](https://feedsoft.ai/events/21280-chinese-yuan-breaches-7-versus-us-dollar-for-second-time-this-year.md) | -0.1% | -1.5% |
| USDCNY | 2020-08-27 | [The inexorable rise of the Chinese yuan](https://feedsoft.ai/events/51841-the-inexorable-rise-of-the-chinese-yuan.md) | -0.7% | -0.8% |
| USDCNY | 2017-09-21 | [China's yuan inches up as post-Fed US dollar rally fades - The Business Times](https://feedsoft.ai/events/69189-china-s-yuan-inches-up-as-post-fed-us-dollar-rally-fades-the-business-times.md) | +1.1% | +0.6% |
| USDCNY | 2023-11-22 | [Chinese Yuan Bounce Overdone](https://feedsoft.ai/events/12029-chinese-yuan-bounce-overdone.md) | -0.1% | +0.0% |

## Sources

- news.cgtn.com: https://news.cgtn.com/news/2021-10-26/Why-Chinese-yuan-shrugs-off-the-fears-over-Fed-s-taper-plan-this-time-14FoDvKQIhi/index.html

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