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A senior central bank official said China is reconsidering its strategy for internationalizing the yuan after a recent comprehensive review. Officials plan more policy support for the currency's global use.
Broader yuan internationalization could eventually change how China pays for commodity imports, but the near-term price impact on feed markets is limited.
bloomberg.comBloomberg NewsOct 24, 2020After 138 past policy events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (47% higher; middle half -0.4% to +0.4%), and -0.1% 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.
