# Chinese Yuan Tests 6.8 As PBoC Injects Liquidity, PMI Expands

> 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.

- Date: 2020-08-31 · published 2020-08-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/51838-chinese-yuan-tests-6-8-as-pboc-injects-liquidity-pmi-expands
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Yuan strength and steady Chinese manufacturing activity point to firm import demand, though the effect on feed prices is indirect.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2020-06-30 | [Chinese Yuan Gains on Strong PMI Readings, PBoC Easing](https://feedsoft.ai/events/52830-chinese-yuan-gains-on-strong-pmi-readings-pboc-easing.md) | -0.9% | -1.1% |
| USDCNY | 2021-01-28 | [China's yuan inches up as tight liquidity pushes interbank rates higher \| Financial Post](https://feedsoft.ai/events/49361-china-s-yuan-inches-up-as-tight-liquidity-pushes-interbank-rates-higher.md) | -0.3% | -0.4% |
| USDCNY | 2024-02-20 | [Korean Won, Chinese Yuan Set to Gain as US Interest Rates Expected to Drop](https://feedsoft.ai/events/31906-korean-won-chinese-yuan-set-to-gain-as-us-interest-rates-expected-to-drop.md) | +0.1% | +0.1% |
| USDCNY | 2025-08-28 | [Chinese Yuan Rises After PBOC Fixing - WSJ](https://feedsoft.ai/events/23542-chinese-yuan-rises-after-pboc-fixing-wsj.md) | -0.2% | -0.3% |
| USDCNY | 2026-10-01 | [Chinese Yuan Hits Strongest Level Since 2022 After PBOC Fixing](https://feedsoft.ai/events/17682-chinese-yuan-hits-strongest-level-since-2022-after-pboc-fixing.md) | -0.0% | -0.7% |

## Sources

- fxdailyreport.com: https://fxdailyreport.com/chinese-yuan-tests-6-8-as-pboc-injects-liquidity-pmi-expands/

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