Loading…
The yuan broke below the 7.10 level it had held within since March 18, reaching 7.1271 per dollar. The PBoC set its central parity rate at 7.0995, the weakest since March 24.
The article suggests the move signals the government judges monetary support for the economy still necessary.
Further yuan weakness raises the cost of dollar-priced grain and oilseed imports for China, a major buyer, and could temper near-term feed purchases.
asiafinancial.comJim PollardApr 2, 2020After 398 past bullish macro events, USDCNY 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.
