# China signals support for yuan with currency fix stronger than 7 per US dollar | The Straits Times

> China set its daily yuan fixing at 6.9779 per dollar, stronger than the key 7 level and slightly below the Bloomberg survey estimate. The move came after the yuan had weakened past 7 on Monday amid coronavirus concerns.

- Date: 2020-02-04 · published 2020-02-04T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/5134-china-signals-support-for-yuan-with-currency-fix-stronger-than-7-per-us-dollar
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The fixing signals official intent to stabilise the currency and sentiment during the outbreak. This limits near-term pressure on Chinese import costs for feed commodities.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2019-11-05 | [China: Yuan surges past 7 per dollar for the first time since August](https://feedsoft.ai/events/56293-china-yuan-surges-past-7-per-dollar-for-the-first-time-since-august.md) | -0.3% | +0.3% |
| USDCNY | 2026-02-01 | [China Sets Yuan Fixing Stronger Than 7 for First Time Since 2023](https://feedsoft.ai/events/21278-china-sets-yuan-fixing-stronger-than-7-for-first-time-since-2023.md) | -0.2% | -1.0% |
| USDCNY | 2017-07-30 | [China's yuan firms on stronger fixing, set for the 3rd winning month - The Business Times](https://feedsoft.ai/events/70191-china-s-yuan-firms-on-stronger-fixing-set-for-the-3rd-winning-month-the.md) | -0.1% | -1.3% |
| USDCNY | 2017-01-14 | [China’s currency upsets forecasts by beginning the new year stronger](https://feedsoft.ai/events/11877-china-s-currency-upsets-forecasts-by-beginning-the-new-year-stronger.md) | -0.6% | -0.5% |
| USDCNY | 2020-03-11 | [Chinese Currency Rises Against US Dollar For Five Straight Days](https://feedsoft.ai/events/10774-chinese-currency-rises-against-us-dollar-for-five-straight-days.md) | +0.7% | +1.3% |

## Sources

- straitstimes.com: https://www.straitstimes.com/business/economy/china-signals-support-for-yuan-with-currency-fix-stronger-than-7-per-us-dollar

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