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The yuan slipped against the dollar on June 3 after Beijing used new tools, including higher reserve requirements on foreign exchange deposits and a large batch of QDII outbound investment quotas, to slow its rise. The yuan had strengthened sharply as the dollar weakened and capital flowed into China.
Currency management aimed at slowing yuan appreciation signals Beijing's preference for a steadier exchange rate, which has limited direct effect on feed commodity prices.
scmp.comFrank TangJun 3, 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.
