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The yuan slid against the dollar as investors sought safe haven dollars during the coronavirus crisis, with the PBOC setting its weakest midpoint fix since December 11, 2019 at 7.0328. The yuan had eased 0.6 percent, less than several regional currencies.
A weaker yuan raises the cost of US agricultural imports for China, which can temper buying, but the move is modest and largely reflects dollar strength from risk aversion.
devel.btimesonline.comJet EncilaMar 19, 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.
