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The yuan broke below 6.9 per dollar and was moving toward 6.8 on Monday, supported by PBoC liquidity injections of $2.9 billion through seven-day reverse repos at 2.2%. China's August manufacturing PMI came in at 51, slightly below the 51.2 forecast.
Yuan strength and steady Chinese manufacturing activity point to firm import demand, though the effect on feed prices is indirect.
fxdailyreport.comDaffa ZakyAug 31, 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.
