# China’s yuan touches 3-week high - Business & Finance - Business Recorder

> The yuan rose to a more than three-week high against the dollar on August 30 after Federal Reserve Chair Jerome Powell signaled no rush to exit stimulus. The PBOC set its midpoint firmer than the prior fix. Traders said the gains were driven mainly by a softer dollar and were expected to be short-lived.

- Date: 2021-08-30 · published 2021-08-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/45782-china-s-yuan-touches-3-week-high-business-and-finance-business-recorder
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan lowers the local-currency cost of dollar-priced imports for China, a modest support for its buying of feed ingredients. The move reflects dollar weakness rather than a fundamental shift in China's demand.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-07-28 | [China’s yuan touches two-week high after Fed appears less hawkish than expected - Markets - Business Recorder](https://feedsoft.ai/events/40701-china-s-yuan-touches-two-week-high-after-fed-appears-less-hawkish-than-expected.md) | -0.0% | +1.5% |
| USDCNY | 2022-06-16 | [China’s yuan climbs to week high after expected Fed move - Markets - Business Recorder](https://feedsoft.ai/events/41169-china-s-yuan-climbs-to-week-high-after-expected-fed-move-markets-business.md) | -0.2% | +0.7% |
| USDCNY | 2023-02-02 | [China’s yuan jumps to over 2-week high on Fed’s dovish tilt - Markets - Business Recorder](https://feedsoft.ai/events/37551-china-s-yuan-jumps-to-over-2-week-high-on-fed-s-dovish-tilt-markets-business.md) | +0.7% | +2.5% |
| USDCNY | 2021-07-15 | [China's yuan inches higher, GDP data caps gains - Markets - Business Recorder](https://feedsoft.ai/events/46289-china-s-yuan-inches-higher-gdp-data-caps-gains-markets-business-recorder.md) | -0.0% | +0.1% |
| USDCNY | 2022-11-11 | [Yuan hits 7-week high after China eases some stringent COVID curbs - Markets - Business Recorder](https://feedsoft.ai/events/8205-yuan-hits-7-week-high-after-china-eases-some-stringent-covid-curbs-markets.md) | -0.9% | -2.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40116809

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