# Yuan largely flat as pledge to support economy offsets dollar strength | Financial Post

> China's yuan was broadly flat against the dollar on Monday as the central bank cut the reverse repo rate by 20 basis points, following a Politburo pledge to step up economic support. The PBOC set the midpoint at 7.0447 per dollar and spot yuan traded near 7.096.

- Date: 2020-03-30 · published 2020-03-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/54319-yuan-largely-flat-as-pledge-to-support-economy-offsets-dollar-strength
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Expected policy easing and a firmer yuan reduce pressure on Chinese feed demand and import costs, though analysts expect the rate cut could weaken the yuan over time, which would lift the cost of US commodity imports for China.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2020-09-17 | [Yuan falls on dollar strength after Fed's upbeat economic outlook \| Financial Post](https://feedsoft.ai/events/51315-yuan-falls-on-dollar-strength-after-fed-s-upbeat-economic-outlook-financial-post.md) | +0.8% | -0.4% |
| USDCNY | 2021-04-01 | [China's yuan dips as Biden infrastructure plan lifts dollar \| Financial Post](https://feedsoft.ai/events/47817-china-s-yuan-dips-as-biden-infrastructure-plan-lifts-dollar-financial-post.md) | -0.2% | -1.1% |
| USDCNY | 2022-04-21 | [China's yuan slides to 6-month low as tightening prospects help dollar \| Financial Post](https://feedsoft.ai/events/7337-china-s-yuan-slides-to-6-month-low-as-tightening-prospects-help-dollar.md) | +2.2% | +5.2% |
| USDCNY | 2022-12-28 | [China's yuan weakens as U.S. dollar gains on sustained inflation outlook \| Financial Post](https://feedsoft.ai/events/38448-china-s-yuan-weakens-as-u-s-dollar-gains-on-sustained-inflation-outlook.md) | -1.0% | -2.4% |
| USDCNY | 2020-03-30 | [China's overnight onshore dollar/yuan swap points fall to lowest level since 2007 \| Financial Post](https://feedsoft.ai/events/54321-china-s-overnight-onshore-dollar-yuan-swap-points-fall-to-lowest-level-since.md) | -0.0% | -0.2% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/yuan-largely-flat-as-pledge-to-support-economy-offsets-dollar-strength

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