# China's yuan hits 1-week high, but rally slows as Sino-U.S. meet looms | Financial Post

> The yuan rose to a one-week high on March 18 after the Federal Reserve signaled it was in no hurry to raise rates, which pressured the dollar. The PBOC set its midpoint at a near one-week high of 6.4859 per dollar.

- Date: 2021-03-18 · published 2021-03-18T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/48338-china-s-yuan-hits-1-week-high-but-rally-slows-as-sino-u-s-meet-looms-financial
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer yuan modestly boosts China's purchasing power for imported feed ingredients, a slight supportive factor for demand.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-04-22 | [China's yuan nears six-week high as U.S. yields ease \| Financial Post](https://feedsoft.ai/events/47810-china-s-yuan-nears-six-week-high-as-u-s-yields-ease-financial-post.md) | -0.2% | -0.9% |
| 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 | 2021-01-28 | [China's yuan inches up as tight liquidity pushes interbank rates higher \| Financial Post](https://feedsoft.ai/events/49361-china-s-yuan-inches-up-as-tight-liquidity-pushes-interbank-rates-higher.md) | -0.3% | -0.4% |
| USDCNY | 2021-08-30 | [China’s yuan touches 3-week high - Business & Finance - Business Recorder](https://feedsoft.ai/events/45782-china-s-yuan-touches-3-week-high-business-and-finance-business-recorder.md) | -0.3% | -0.2% |
| USDCNY | 2020-03-10 | [Yuan edges up as virus spread slows, Xi visits Wuhan \| Financial Post](https://feedsoft.ai/events/10773-yuan-edges-up-as-virus-spread-slows-xi-visits-wuhan-financial-post.md) | +0.7% | +2.1% |
| DXY | 2021-04-22 | [China's yuan nears six-week high as U.S. yields ease \| Financial Post](https://feedsoft.ai/events/47810-china-s-yuan-nears-six-week-high-as-u-s-yields-ease-financial-post.md) | -0.3% | -1.2% |
| DXY | 2020-11-09 | [China sets yuan midpoint at 28-month high after Joe Biden wins presidency \| Financial Post](https://feedsoft.ai/events/50361-china-sets-yuan-midpoint-at-28-month-high-after-joe-biden-wins-presidency.md) | -0.1% | -1.7% |
| DXY | 2021-08-27 | [Pound hits over 1-week high - Business & Finance - Business Recorder](https://feedsoft.ai/events/45804-pound-hits-over-1-week-high-business-and-finance-business-recorder.md) | -0.9% | -0.0% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/chinas-yuan-hits-1-week-high-but-rally-slows-as-sino-u-s-meet-looms

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