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Asian currencies are decoupling from the yuan as regional recoveries from the coronavirus diverge, with countries such as Indonesia and the Philippines still facing rising outbreaks. The 30-day correlation between the offshore yuan and six regional currencies has declined as the yuan reached its strongest level in more than a year.
Divergence among Asian currencies makes regional import purchasing power harder to predict, which adds uncertainty to demand for feed ingredients from Southeast Asian buyers.
caixinglobal.comSep 24, 2020After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), 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.
