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The yuan hit a three-year high against the dollar and a five-year high against a trade-weighted basket in early June. Analysts expect the strength to draw scrutiny from the Biden administration as US-China trade talks resume, including questions about China's compliance with its phase one commitments on the exchange rate.
Renewed US-China trade talks could influence future Chinese purchases of US farm goods, but this article focuses on currency and has no immediate price effect on feed commodities.
scmp.comKaren YeungJun 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.
