# Yuan sinks past seven against the dollar to over decade low

> The yuan fell below 7 per dollar on August 5, 2019, to its lowest onshore level since the 2008 financial crisis. Investors sold export-oriented Asian currencies and moved into safe havens, and Trump called the move currency manipulation.

- Date: 2019-08-05 · published 2019-08-05T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/5372-yuan-sinks-past-seven-against-the-dollar-to-over-decade-low
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A sharp yuan drop lowers the dollar cost of Chinese demand for imports and raises pressure on emerging-market currencies. Risk-off flows tend to weigh on commodity prices.

## Read by commodity

- USDCNY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2019-08-05 | 1 | +1.6% | 6.6 | The yuan sank past 7 to a decade low as investors sold export-oriented Asian currencies and moved into safe havens, so sentiment and capital flows amplified the move. |
| USDCNY | 2019-08-07 | 5 | +2.6% | 3.9 | The yuan fell to a decade low as investors sold export-oriented Asian currencies and moved into safe havens, a sentiment and capital-flow driver of the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-11-01 | [China’s Yuan Drops to a Decade-Low, 7 Per Dollar Now in Sight](https://feedsoft.ai/events/62762-china-s-yuan-drops-to-a-decade-low-7-per-dollar-now-in-sight.md) | -0.8% | -0.3% |
| USDCNY | 2024-02-20 | [Onshore yuan trades at its weakest against dollar since November last year](https://feedsoft.ai/events/31900-onshore-yuan-trades-at-its-weakest-against-dollar-since-november-last-year.md) | +0.1% | +0.1% |
| USDCNY | 2017-04-25 | [China's yuan dips against US dollar, falls to record low against currency basket - The Business Times](https://feedsoft.ai/events/71709-china-s-yuan-dips-against-us-dollar-falls-to-record-low-against-currency-basket.md) | +0.1% | -0.0% |
| USDCNY | 2022-05-31 | [In Depth: Behind the Yuan’s Tumble Against the Dollar - Caixin Global](https://feedsoft.ai/events/41602-in-depth-behind-the-yuan-s-tumble-against-the-dollar-caixin-global.md) | -0.7% | +0.1% |
| USDCNY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -1.2% | +0.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/08/05/forex-markets-chinese-yuan-japanese-yen-in-focus.html

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