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The yuan was little changed on June 2 after the PBOC set a midpoint about 200 pips weaker than the prior fix, signaling pushback against further appreciation. The currency sits near three-year highs after strong export performance and capital inflows.
A stronger yuan lowers the local cost of imported commodities, but the PBOC's guidance to slow gains is a small factor for feed buyers.
financialpost.comReutersJun 2, 2021After 991 past macro events, Chinese Yuan (CNY per USD) 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.
