# Chinese yuan jumps to strongest and will likely continue - CGTN

> China's yuan climbed to its strongest level in more than two years, reaching 6.5623 per dollar. Gains are attributed to the economic rebound, a near-record bond yield premium over U.S. debt, and a weaker dollar.

- Date: 2020-11-17 · published 2020-11-17T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/50364-chinese-yuan-jumps-to-strongest-and-will-likely-continue-cgtn
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A strengthening yuan reduces the local-currency cost of dollar-priced feed imports, a modest support for Chinese import demand, while the weaker dollar tends to lift dollar-quoted commodity prices.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-02-27 | [Yuan will likely remain weak as China continues to muddle through its structural challenges – Commerzbank — Octa](https://feedsoft.ai/events/31897-yuan-will-likely-remain-weak-as-china-continues-to-muddle-through-its.md) | +0.0% | +0.2% |
| USDCNY | 2022-12-06 | [Will the Chinese yuan fall with the economy? \| IG Bank Switzerland](https://feedsoft.ai/events/6580-will-the-chinese-yuan-fall-with-the-economy-ig-bank-switzerland.md) | +0.2% | -1.1% |
| USDCNY | 2021-11-02 | [Macroscope \| Why the wind behind the Chinese yuan’s strength is likely to die down in 2022 \| South China Morning Post](https://feedsoft.ai/events/44273-macroscope-why-the-wind-behind-the-chinese-yuan-s-strength-is-likely-to-die.md) | -0.1% | -0.5% |
| USDCNY | 2022-05-09 | [Chinese Yuan Slips To An 18-Month Low - Asia Financial News](https://feedsoft.ai/events/8317-chinese-yuan-slips-to-an-18-month-low-asia-financial-news.md) | +1.8% | -0.2% |
| USDCNY | 2024-07-24 | [Chinese yuan hits eight-month low as commodities currencies continue slide](https://feedsoft.ai/events/7522-chinese-yuan-hits-eight-month-low-as-commodities-currencies-continue-slide.md) | -0.3% | -2.0% |
| DXY | 2017-08-30 | [Yuan Appreciation: RMB strengthens when US index continues to fall - CGTN](https://feedsoft.ai/events/69676-yuan-appreciation-rmb-strengthens-when-us-index-continues-to-fall-cgtn.md) | -0.6% | +0.9% |
| DXY | 2018-02-08 | [Chinese yuan strengthens to new high against USD - Chinadaily.com.cn](https://feedsoft.ai/events/7105-chinese-yuan-strengthens-to-new-high-against-usd-chinadaily-com-cn.md) | -0.2% | +0.2% |
| DXY | 2018-01-25 | [Chinese yuan strengthens to 27-month high against USD Thursday](https://feedsoft.ai/events/11866-chinese-yuan-strengthens-to-27-month-high-against-usd-thursday.md) | -0.3% | +0.7% |

## Sources

- news.cgtn.com: https://news.cgtn.com/news/2020-11-17/Chinese-yuan-jumps-to-strongest-and-will-likely-continue-VuOWmShCEw/index.html

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