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A Futu article reviews the strong gains of Asian currencies to multi-year highs in 2020, driven by investor inflows into Asian stocks and bonds. It says the renminbi is at its strongest since mid-2018 and could approach 6.25 per dollar, the New Taiwan dollar is expected to keep appreciating, and the Korean won has fallen 1.6% so far this year after a 2020 rally.
A firmer renminbi and other Asian currencies make dollar-priced feed imports cheaper for Chinese and regional buyers, which can support demand for US soybeans, corn and meal.
news.futunn.comFeb 3, 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.
