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The yuan has risen more than 9% against the US dollar since June, supported by a strong economic recovery and an export boom. Beijing shows no urgency to weaken the currency despite pressure on exporters.
The greenback has weakened on a weak US economy and low interest rates.
A stronger yuan makes Chinese import purchases of dollar-priced commodities cheaper, which can support demand for US feed ingredients. It also squeezes Chinese exporters' margins.
wsj.comStella Yifan XieFeb 25, 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.
