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Beijing is allowing faster gains in the yuan, with the currency up nearly 5% since its May low. The move aims to cheapen imports and support weak consumer spending.
A deliberately stronger yuan lowers the cost of imported feed inputs for China, which may encourage purchases of US and Brazilian commodities.
bloomberg.comBloomberg NewsOct 1, 2020After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
