# China's yuan kept in check by weaker midpoint guidance, eyes on PBOC | Financial Post

> 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.

- Date: 2021-06-02 · published 2021-06-02T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/46815-china-s-yuan-kept-in-check-by-weaker-midpoint-guidance-eyes-on-pboc-financial
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

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.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2019-12-26 | [China lifts yuan midpoint to strongest in 4-1/2 months \| Financial Post](https://feedsoft.ai/events/55801-china-lifts-yuan-midpoint-to-strongest-in-4-1-2-months-financial-post.md) | -0.6% | -1.3% |
| USDCNY | 2019-11-06 | [China sets yuan midpoint at three-month high \| Financial Post](https://feedsoft.ai/events/56292-china-sets-yuan-midpoint-at-three-month-high-financial-post.md) | +0.2% | +0.5% |
| USDCNY | 2024-07-09 | [China’s yuan slides on weaker guidance; Powell testimony in focus - The Pound Hub](https://feedsoft.ai/events/12302-china-s-yuan-slides-on-weaker-guidance-powell-testimony-in-focus-the-pound-hub.md) | -0.1% | -1.9% |
| USDCNY | 2020-10-21 | [China lifts yuan midpoint to 27-month high \| Financial Post](https://feedsoft.ai/events/50851-china-lifts-yuan-midpoint-to-27-month-high-financial-post.md) | +0.4% | -1.7% |
| USDCNY | 2020-10-30 | [As China's yuan becomes a Biden election play, PBOC pushes back \| Financial Post](https://feedsoft.ai/events/50847-as-china-s-yuan-becomes-a-biden-election-play-pboc-pushes-back-financial-post.md) | -1.7% | -2.1% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/chinas-yuan-kept-in-check-by-weaker-midpoint-guidance-eyes-on-pboc

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