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The PBOC set the yuan midpoint at 7.0810 per dollar, weaker than the prior day but stronger than the roughly 7.1055 market estimate. Analysts suggested Beijing may be trying to slow the currency's depreciation during the ongoing trade war.
Managed yuan weakness supports Chinese export competitiveness and feeds into the broader trade dispute affecting US soybean and grain demand, though the smaller-than-expected move limits the price shock.
cnbc.comSaheli Roy ChoudhuryAug 27, 2019After 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.
