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Onshore and offshore yuan rose above 6.90 per dollar on Wednesday, with CNY at 6.8897 at press time. The dollar index held above 93.
Analysts cited China's economic recovery and expected inflows into Chinese bonds.
Yuan strength against a softer dollar modestly eases China's cost of US dollar-priced feed imports, a minor influence on commodity prices.
fxeyema.comAug 27, 2020After 362 past bearish macro events, USDCNY moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
After 359 past neutral macro events, DXY moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), 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.
