Loading…
The yuan slipped to 7.0240 per dollar, its weakest since 2008, as the US-China trade war escalated. The move triggered selling in regional stock markets and in several Asian currencies.
A sharp yuan drop after new tariff escalation makes Chinese buyers favor non-US farm supplies, adding downside pressure to US soybean and grain prices.
jp.reuters.comAug 5, 2019After 22 past bearish trade events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (41% higher; middle half -0.7% to +0.3%), and -0.3% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
