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Marc Chandler of Bannockburn Global Forex said the yuan could weaken to 7.30 to 7.40 per dollar if US-China tensions persist for several months. The onshore yuan traded at 7.1675 per dollar, and the offshore yuan touched its weakest level since early September.
This is a single strategist's forecast rather than a policy action, so its direct price effect is limited. A sustained slide toward 7.40 would, however, raise the cost of dollar-priced commodity imports for China.
cnbc.comEustance HuangMay 28, 2020After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
