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The yuan edged up against the dollar on June 30 as tight onshore and offshore cash conditions lifted short-term borrowing costs. A rebound in the dollar still put the yuan on course for its worst monthly performance since August 2019.
Some state-run banks in Beijing were temporarily closed ahead of the Communist Party's 100th anniversary.
A weaker yuan modestly raises the cost of dollar-priced imports for China, a major feed buyer, but the move is small and does not directly shift grain or meal prices.
brecorder.comReutersJun 30, 2021After 991 past macro events, USDCNY moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), 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.
