Loading…
The yuan reached a three-year high against the dollar this week and gained 0.93% since Friday's close. Analysts expect the currency to stay strong because the PBOC has not shown concern about its pace and the dollar's weakness looks set to continue.
Liu He and Katherine Tai also held their first call since Biden took office.
A strong yuan with a weak dollar lowers China's cost of dollar-priced commodity imports, which can support demand for grains and oilseeds. The renewed US-China trade talks add some support for purchase commitments.
caixinglobal.comMay 28, 2021After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
