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Chinese regulators are tightening control over currency trading, pressuring banks to trade less and within smaller ranges, according to banking sources. The move is part of a broader campaign to curb speculation and financial risk.
Tighter yuan controls reduce currency volatility for importers of feed grains and meal, but they signal Beijing's willingness to manage the currency, which can affect demand timing for US and Brazilian supplies.
scmp.comSep 29, 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.
