# Yuan ends near 2-week high, PBOC's plan to buy bank loans nudges forwards up - Business & Finance - Business Recorder

> The onshore yuan closed at 7.1105 per dollar on June 2, its strongest close since May 21, after a firmer-than-expected PBOC midpoint. The move followed a Bloomberg report that China had ordered state firms to pause some US farm purchases.

- Date: 2020-06-02 · published 2020-06-02T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/52829-yuan-ends-near-2-week-high-pboc-s-plan-to-buy-bank-loans-nudges-forwards-up
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The reported pause in Chinese state purchases of US agricultural goods is bearish for US soybean, pork and grain export demand, though the currency itself moved only modestly.

## Read by commodity

- SOY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-06-01 | [Yuan ends domestic session at 1-1/2 week high despite China-US tensions - Business & Finance - Business Recorder](https://feedsoft.ai/events/52832-yuan-ends-domestic-session-at-1-1-2-week-high-despite-china-us-tensions.md) | +3.2% | +2.9% |
| SOY | 2024-11-07 | [China’s yuan falls to near 3-month low on weaker fixing, tariff worries - Markets - Business Recorder](https://feedsoft.ai/events/6858-china-s-yuan-falls-to-near-3-month-low-on-weaker-fixing-tariff-worries-markets.md) | +1.0% | -0.1% |
| SOY | 2025-09-24 | [Soybeans ease to nearly 6-week low on harvest pressure, lack of China demand - Markets - Business Recorder](https://feedsoft.ai/events/22900-soybeans-ease-to-nearly-6-week-low-on-harvest-pressure-lack-of-china-demand.md) | -1.0% | +1.9% |
| SOY | 2025-09-28 | [Soy futures slightly up - Markets - Business Recorder](https://feedsoft.ai/events/22898-soy-futures-slightly-up-markets-business-recorder.md) | +0.4% | +2.8% |
| SOY | 2019-05-23 | [News Archives for Markets - 2019-05-23 - Business Recorder](https://feedsoft.ai/events/5436-news-archives-for-markets-2019-05-23-business-recorder.md) | +7.3% | +10.5% |
| USDCNY | 2020-06-01 | [Yuan ends domestic session at 1-1/2 week high despite China-US tensions - Business & Finance - Business Recorder](https://feedsoft.ai/events/52832-yuan-ends-domestic-session-at-1-1-2-week-high-despite-china-us-tensions.md) | -0.8% | -0.8% |
| USDCNY | 2021-10-26 | [China's yuan inches higher after Sino-US talks - Markets - Business Recorder](https://feedsoft.ai/events/44775-china-s-yuan-inches-higher-after-sino-us-talks-markets-business-recorder.md) | +0.2% | +0.1% |
| USDCNY | 2020-06-19 | [Yuan firms on report China will speed up US farm purchases - Markets - Business Recorder](https://feedsoft.ai/events/52828-yuan-firms-on-report-china-will-speed-up-us-farm-purchases-markets-business.md) | -0.1% | -1.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/1000690

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