◂ Event Timeline

Dec 26, 2019MACROChina

China lifts yuan midpoint to strongest in 4-1/2 months

The People's Bank of China lifted its official yuan midpoint to 6.9801 per dollar, the strongest level since early August. The move followed a strong spot yuan rally that pushed the currency past the 7-per-dollar level.

WHY IT MATTERS

A stronger yuan makes dollar-priced imports such as soybeans and meal cheaper for Chinese buyers, which can support US feed demand. The effect is a modest one at this scale.

AFFECTSChinese Yuan (CNY per USD)▼

SOURCE
financialpost.comReutersDec 26, 2019

Price reaction & history

Chinese Yuan (CNY per USD)▼bearishSO FAR1d -0.2%5d -0.6%20d -1.3%

After 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.

Nov 6, 2019China sets yuan midpoint at three-month high | Financial Post+0.2%
Feb 1, 2026China's yuan hits 32-month high as PBOC carefully lifts midpoint-0.2%
Oct 29, 2019PBOC set the onshore yuan at its strongest in 2 months-0.5%
Jul 1, 2025China lifts yuan midpoint, but trade weighted value falls to lowest since 2021+0.1%
Nov 26, 2025China sets strongest yuan fix in over a year as Fed-cut bets rise | South China Morning Post-0.3%

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.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

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