# Yuan eases after China tweaks fixing formula to rein in strength | Financial Post

> The yuan eased against the dollar after Chinese banks suspended use of a counter-cyclical factor in the daily fixing formula. The People's Bank of China set the midpoint at a near two-week low of 6.7195 per dollar, 0.3% weaker than the previous fix.

- Date: 2020-10-28 · published 2020-10-28T12:00:00.000Z
- Category: policy · region China · magnitude medium
- Page: https://feedsoft.ai/events/50848-yuan-eases-after-china-tweaks-fixing-formula-to-rein-in-strength-financial-post
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The fixing change signals Beijing wants to slow yuan appreciation, which could support China's import costs for US commodities less than a sharp move would. Traders expect the rally to pause rather than reverse.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-02-27 | [Yuan Snaps Rising Streak After China Cuts Cost to Short Currency - Bloomberg](https://feedsoft.ai/events/7897-yuan-snaps-rising-streak-after-china-cuts-cost-to-short-currency-bloomberg.md) | +0.7% | +1.0% |
| USDCNY | 2020-10-28 | [Yuan’s Rally Faces Test After Banks Tweak Daily Reference Rate - Caixin Global](https://feedsoft.ai/events/50849-yuan-s-rally-faces-test-after-banks-tweak-daily-reference-rate-caixin-global.md) | -0.4% | -1.9% |
| USDCNY | 2021-10-20 | [China Sets Weaker-Than-Expected Yuan Fix, Adds More Cash  - Caixin Global](https://feedsoft.ai/events/7480-china-sets-weaker-than-expected-yuan-fix-adds-more-cash-caixin-global.md) | -0.0% | -0.1% |
| USDCNY | 2021-01-06 | [China moves to curb yuan rally pressure due to hot money and export concerns \| South China Morning Post](https://feedsoft.ai/events/49366-china-moves-to-curb-yuan-rally-pressure-due-to-hot-money-and-export-concerns.md) | +0.1% | +0.3% |
| USDCNY | 2017-09-10 | [China Is Striving to Contain Its Once-Diving, Now-Thriving Yuan](https://feedsoft.ai/events/9413-china-is-striving-to-contain-its-once-diving-now-thriving-yuan.md) | +1.1% | +2.7% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/yuan-eases-after-china-tweaks-fixing-formula-to-rein-in-strength

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