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The yuan weakened on March 23 after Western governments imposed sanctions on Chinese officials over human rights abuses in Xinjiang, and China retaliated. The dollar stayed near recent highs as a firming US recovery lifted yields.
Sanctions-driven risk aversion weakens the yuan and could affect China's trade relations, a modest factor for import demand for US and other feed commodities.
financialpost.comReutersMar 23, 2021After 14 past bullish geopolitics events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (36% higher; middle half -0.4% to +0.2%), and -0.5% 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.
