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A Reuters piece says the US-China currency deal is unlikely to change dollar-yuan dynamics, according to experts. The text notes that China historically held down its currency and later intervened to support it after a 2015 devaluation.
A currency pact that leaves yuan dynamics unchanged means exchange rates are unlikely to add a new shift to Chinese import demand for US farm products. The implication for feed prices is minimal.
reuters.comDavid LawderOct 11, 2019After 42 past neutral policy events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (50% higher; middle half -0.3% to +0.4%), 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.
