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A Reuters Breakingviews column on Dec 28, 2020 notes that the yuan rose about 10% against the dollar and that the rally has not yet hurt China's exports. The column says the stronger currency has improved Chinese buying power.
The text is partial.
A stronger yuan improves China's purchasing power for imported grains and oilseeds, which is supportive of import demand, though the effect on feed prices is indirect.
reuters.comPete SweeneyDec 28, 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.
