# Chinese yuan strengthens to 7.0617 against USD Tuesday_Xinhua Finance Agency

> Xinhua reports the yuan's central parity rate strengthened 145 pips to 7.0617 against the dollar on October 29. The yuan is allowed to move 2% either side of the central parity each trading day.

- Date: 2019-10-29 · published 2019-10-29T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/56813-chinese-yuan-strengthens-to-7-0617-against-usd-tuesday-xinhua-finance-agency
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan lowers the local cost of dollar-priced commodities, which can modestly support Chinese buying of US soybeans and corn. The effect on prices is limited because this is a routine fixing.

## Read by commodity

- USDCNY: bearish ▼

## Sources

- en.xfafinance.com: http://en.xfafinance.com/html/Markets/Currencies/2019/470690.shtml

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