# PBOC set the onshore yuan at its strongest in 2 months

> The PBOC set the USD/CNY reference rate at 7.0617, stronger than the prior day's 7.0762, marking the yuan's strongest central-parity level in about two months. The onshore yuan has been recovering as prospects for a phase one US-China trade deal improved.

- Date: 2019-10-29 · published 2019-10-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/56809-pboc-set-the-onshore-yuan-at-its-strongest-in-2-months
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A firmer yuan reflects improved trade-deal sentiment, which can support Chinese import demand for US farm goods such as soybeans and corn. The currency move is a modest signal rather than a direct supply change for feed buyers.

## Read by commodity

- SOY: neutral
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2019-12-26 | [China lifts yuan midpoint to strongest in 4-1/2 months \| Financial Post](https://feedsoft.ai/events/55801-china-lifts-yuan-midpoint-to-strongest-in-4-1-2-months-financial-post.md) | -0.6% | -1.3% |
| USDCNY | 2024-08-30 | [Yuan hits strongest in more than a year as flows offset fundamentals - The Business Times](https://feedsoft.ai/events/29024-yuan-hits-strongest-in-more-than-a-year-as-flows-offset-fundamentals-the.md) | -0.1% | -1.2% |
| USDCNY | 2026-07-31 | [Offshore Yuan Holds at Strongest Level Since 2023](https://feedsoft.ai/events/18573-offshore-yuan-holds-at-strongest-level-since-2023.md) | -0.1% | -0.5% |
| USDCNY | 2024-09-25 | [Chinese yuan hits strongest level against dollar in over 16 months as investors assess PBOC stimulus](https://feedsoft.ai/events/28553-chinese-yuan-hits-strongest-level-against-dollar-in-over-16-months-as-investors.md) | -0.2% | +1.3% |
| USDCNY | 2026-03-03 | [Yuan Rallies Most in 10 Months as PBOC Strengthens Fix Into NPC - Bloomberg](https://feedsoft.ai/events/9161-yuan-rallies-most-in-10-months-as-pboc-strengthens-fix-into-npc-bloomberg.md) | +0.4% | +0.4% |
| SOY | 2024-11-13 | [PBOC pulls China’s yuan off 3-month low with stronger-than-expected fix - Markets - Business Recorder](https://feedsoft.ai/events/6696-pboc-pulls-china-s-yuan-off-3-month-low-with-stronger-than-expected-fix-markets.md) | -0.5% | -0.8% |
| SOY | 2026-03-12 | [Offshore Yuan Falls on Strong Dollar — TradingView News](https://feedsoft.ai/events/11678-offshore-yuan-falls-on-strong-dollar-tradingview-news.md) | -3.2% | -2.9% |
| SOY | 2021-11-18 | [Investors more bullish on yuan, short bets on Thai baht ease: Reuters poll \| WSAU News/Talk 550 AM · 99.9 FM \| Wausau, Stevens Point](https://feedsoft.ai/events/44311-investors-more-bullish-on-yuan-short-bets-on-thai-baht-ease-reuters-poll-wsau.md) | -0.8% | +0.0% |

## Sources

- investinglive.com: https://investinglive.com/centralbank/!/pboc-set-the-onshore-yuan-at-its-strongest-in-2-months-20191029

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