Loading…
The yuan edged lower against the dollar on Monday as fresh Sino-U.S. tensions, including a Trump administration plan to restrict 89 Chinese aerospace and other firms from buying U.S. goods and technology, weighed on the currency. The yuan had earlier reached a 29-month high after Joe Biden's election win.
A weaker yuan makes Chinese purchases of U.S. farm goods relatively more expensive, so renewed trade friction is a modest negative for U.S. feed-grain export demand and supportive of the dollar against feed-importing currencies.
financialpost.comReutersNov 23, 2020After 40 past bullish trade events, Chinese Yuan (CNY per USD) moved a median +0.6% over 5 sessions (75% higher; middle half +0.0% to +1.4%), and +1.1% 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.
