# Yuan keeps on appreciating against both the dollar and the euro

> The yuan has strengthened about 8% against the dollar since June and 5% against the euro since August, reaching 6.58 per dollar on November 26. The People's Bank of China has not directly intervened to slow the gains, though it cut the FX forward reserve requirement to zero in October.

- Date: 2020-11-27 · published 2020-11-27T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/50362-yuan-keeps-on-appreciating-against-both-the-dollar-and-the-euro
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Sustained yuan appreciation lowers China's dollar-denominated import costs for feed ingredients, supporting purchasing power but reflecting strong Chinese capital inflows rather than new feed demand.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-08-15 | [Analysis: Yuan's strength against the dollar fails to snuff out depreciation expectations](https://feedsoft.ai/events/69678-analysis-yuan-s-strength-against-the-dollar-fails-to-snuff-out-depreciation.md) | -0.1% | -2.0% |
| USDCNY | 2024-01-04 | [China’s yuan eases against the dollar on widening yield differential - The Pound Hub](https://feedsoft.ai/events/11843-china-s-yuan-eases-against-the-dollar-on-widening-yield-differential-the-pound.md) | +0.3% | +0.4% |
| USDCNY | 2022-05-31 | [In Depth: Behind the Yuan’s Tumble Against the Dollar - Caixin Global](https://feedsoft.ai/events/41602-in-depth-behind-the-yuan-s-tumble-against-the-dollar-caixin-global.md) | -0.7% | +0.1% |
| USDCNY | 2019-08-05 | [Yuan sinks past seven against the dollar to over decade low](https://feedsoft.ai/events/5372-yuan-sinks-past-seven-against-the-dollar-to-over-decade-low.md) | +1.8% | +3.1% |
| USDCNY | 2018-07-20 | [China’s yuan falls against dollar, helping exporters \| The Seattle Times](https://feedsoft.ai/events/64270-china-s-yuan-falls-against-dollar-helping-exporters-the-seattle-times.md) | +0.2% | +1.6% |
| DXY | 2023-12-28 | [Dollar falls against yen, gains on euro in choppy trading](https://feedsoft.ai/events/32900-dollar-falls-against-yen-gains-on-euro-in-choppy-trading.md) | +1.0% | +1.8% |
| DXY | 2023-02-09 | [What's behind the euro's comeback against the US dollar](https://feedsoft.ai/events/37542-what-s-behind-the-euro-s-comeback-against-the-us-dollar.md) | +0.3% | +1.1% |
| DXY | 2019-11-10 | [Why the euro is emerging as a brave bet against the dollar \| The National](https://feedsoft.ai/events/56286-why-the-euro-is-emerging-as-a-brave-bet-against-the-dollar-the-national.md) | +0.0% | -0.1% |

## Sources

- bofit.fi: https://www.bofit.fi/en/monitoring/weekly/2020/vw202048_3/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.