# Yuan’s Jump to One-Year High Tests China’s Tolerance for Gains - Bloomberg

> The Chinese yuan jumped as much as 0.56% to 6.8100 per dollar, its strongest level since May 2019, as the dollar hit a two-year low. The People's Bank of China had set its daily fixing weaker than expected for three sessions, which may signal Beijing wanted to slow the rally.

- Date: 2020-09-01 · published 2020-09-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/51313-yuan-s-jump-to-one-year-high-tests-china-s-tolerance-for-gains-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan makes dollar-priced feed imports cheaper for China, which can support Chinese demand for US grains and meal, though the effect on prices is modest.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-12-08 | [China's Yuan Highest Since 2018 as Easing Covid Worry Fuels Risk-On - Bloomberg](https://feedsoft.ai/events/11294-china-s-yuan-highest-since-2018-as-easing-covid-worry-fuels-risk-on-bloomberg.md) | +0.0% | +0.3% |
| USDCNY | 2021-12-31 | [Chinese Yuan Reaches 3-Year High With PBOC Reluctant for Stronger CNY in 2022 - Bloomberg](https://feedsoft.ai/events/43814-chinese-yuan-reaches-3-year-high-with-pboc-reluctant-for-stronger-cny-in-2022.md) | +0.1% | -0.2% |
| USDCNY | 2017-06-01 | [Yuan's Forecasters Getting It Wrong as China Jolts Markets - Bloomberg](https://feedsoft.ai/events/70728-yuan-s-forecasters-getting-it-wrong-as-china-jolts-markets-bloomberg.md) | -0.2% | -0.2% |
| USDCNY | 2023-01-10 | [China's yuan hits fresh five-month high, dollar demand caps gains](https://feedsoft.ai/events/12768-china-s-yuan-hits-fresh-five-month-high-dollar-demand-caps-gains.md) | +0.0% | +0.3% |
| USDCNY | 2021-09-30 | [Dollar (USD) Rally Challenges China Recovery With Yuan (RMB) Gains - Bloomberg](https://feedsoft.ai/events/45272-dollar-usd-rally-challenges-china-recovery-with-yuan-rmb-gains-bloomberg.md) | -0.4% | -1.2% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2020-09-01/yuan-s-jump-to-one-year-high-tests-china-s-tolerance-for-gains

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