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The yuan edged higher on a firmer PBOC midpoint fix of 6.4522 per dollar. Rising US Treasury yields have narrowed the yield gap between Chinese and US bonds, reducing a key driver of portfolio inflows.
Traders expect the yuan to stay directionless in the near term.
Higher US yields tend to strengthen the dollar and can offset yuan gains, which affects the cost of dollar-priced grain imports in China. The effect on feed prices is limited in the near term.
asiafinancial.comChris GillFeb 25, 2021Not enough comparable past events yet for a historical read.
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.
