# The Asian currency reached a multi-year high in 2020; what will happen in 2021? (Includes information on some SGX foreign exchange futures contracts)

> 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.

- Date: 2021-02-03 · published 2021-02-03T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/48865-the-asian-currency-reached-a-multi-year-high-in-2020-what-will-happen-in-2021
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

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.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2020-10-20 | [On the 20th, the won-dollar exchange rate falls below 1140 won intraday for the first time in 1 year and 6 months - The Asia Business Daily](https://feedsoft.ai/events/50866-on-the-20th-the-won-dollar-exchange-rate-falls-below-1140-won-intraday-for-the.md) | +0.5% | -1.9% |
| USDCNY | 2025-03-14 | [The big currency winners of 2025 so far do not include the dollar](https://feedsoft.ai/events/25792-the-big-currency-winners-of-2025-so-far-do-not-include-the-dollar.md) | +0.1% | +1.0% |
| USDCNY | 2021-12-31 | [Chinese Yuan Reaches 3-Year High With PBOC Reluctant for Stronger CNY in 2022 - Bloomberg](https://feedsoft.ai/events/43814-chinese-yuan-reaches-3-year-high-with-pboc-reluctant-for-stronger-cny-in-2022.md) | +0.1% | -0.2% |
| USDCNY | 2024-10-01 | [Malaysian ringgit hits more than 3-year high on China stimulus, leads Asian FX rally](https://feedsoft.ai/events/28590-malaysian-ringgit-hits-more-than-3-year-high-on-china-stimulus-leads-asian-fx.md) | -0.0% | +1.6% |
| USDCNY | 2017-05-26 | [Ringgit jumps on Opec, yuan at three-month high, other Asian currencies drift \| Malay Mail](https://feedsoft.ai/events/71274-ringgit-jumps-on-opec-yuan-at-three-month-high-other-asian-currencies-drift.md) | -0.9% | -0.5% |

## Sources

- news.futunn.com: https://news.futunn.com/en/post/8702390/the-asian-currency-reached-a-multi-year-high-in-2020

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