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Analysts expect the yuan to stay strong against the dollar into 2021, citing China's economic recovery, the dollar's broad weakness, and widening interest rate gaps. The central bank's reference rate hit its highest level since May 2019 at 6.8319 per dollar.
A persistently strong yuan supports Chinese purchasing power for imported feed grains and meal, a modest supportive factor for dollar-priced feed markets.
caixinglobal.comGuo YingzheSep 4, 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.
