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The yuan has risen about 8.5% against the dollar since late May 2020, reaching its strongest level in nearly two and a half years. Analysts have raised concerns that the rapid gain could hurt exporters.
Survey data showed more export firms reporting exchange-rate effects in November.
A stronger yuan lowers the local cost of dollar-priced imports such as soybeans and corn, which can support Chinese import demand, but it also weighs on export-oriented manufacturing. The effect on feed commodity prices is indirect.
caixinglobal.comPeng Qinqin, Guo YingzheDec 15, 2020After 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.
