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The central parity rate of the yuan strengthened 309 pips to 6.8954 per dollar, its strongest since August 1 last year. The move followed the US dropping China's currency manipulator designation, with Treasury citing enforceable commitments against competitive devaluation.
A firmer yuan supports Chinese import capacity for US farm goods under the trade deal, a modestly supportive factor for US grain prices.
chinadaily.com.cn孙迟Jan 14, 2020After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
