# China Central Banker Says No Specific Yuan Level Important - Bloomberg

> People's Bank of China Governor Yi Gang said no specific yuan level is important and expressed confidence the currency will stay relatively strong once trade war tensions subside. He acknowledged the yuan has weakened recently due to pressure from the US side.

- Date: 2019-06-09 · published 2019-06-09T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/58817-china-central-banker-says-no-specific-yuan-level-important-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A central bank signaling tolerance for a weaker yuan lowers the cost of Chinese purchases of US farm goods in dollar terms, which can weigh on US export demand for feed grains and soybeans while supporting Chinese import margins.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2025-01-14 | [China Will ‘Try Very Hard’ to Slow Yuan’s Fall, UBS’ Wang Says - Bloomberg](https://feedsoft.ai/events/12208-china-will-try-very-hard-to-slow-yuan-s-fall-ubs-wang-says-bloomberg.md) | -0.8% | -0.3% |
| USDCNY | 2022-10-25 | [China’s Yuan CNY USD Drops as PBOC Sets Fix at Weakest Level in 14 Years - Bloomberg](https://feedsoft.ai/events/6933-china-s-yuan-cny-usd-drops-as-pboc-sets-fix-at-weakest-level-in-14-years.md) | +0.6% | -1.7% |
| USDCNY | 2017-01-16 | [Yuan Top Forecaster Sees No End to Losses as China Economy Slows - Bloomberg](https://feedsoft.ai/events/11878-yuan-top-forecaster-sees-no-end-to-losses-as-china-economy-slows-bloomberg.md) | -0.6% | -0.5% |
| USDCNY | 2017-01-09 | [China cannot let yuan weaken over 25 pct - ex-central bank advisor](https://feedsoft.ai/events/10765-china-cannot-let-yuan-weaken-over-25-pct-ex-central-bank-advisor.md) | -0.3% | -0.5% |
| USDCNY | 2016-11-16 | [China’s Yuan Tumbles to Eight-Year Low as Banks Weaken Forecasts - Bloomberg](https://feedsoft.ai/events/7741-china-s-yuan-tumbles-to-eight-year-low-as-banks-weaken-forecasts-bloomberg.md) | +0.5% | +0.7% |
| SOY | 2024-11-07 | [CNY/USD: China Sets Yuan Fix at Weakest Since 2023 - Bloomberg](https://feedsoft.ai/events/6857-cny-usd-china-sets-yuan-fix-at-weakest-since-2023-bloomberg.md) | +1.0% | -0.1% |
| SOY | 2022-08-19 | [China Yuan Slumps to Near-Two-Year Low Against USD as Rate Differential Widens - Bloomberg](https://feedsoft.ai/events/40262-china-yuan-slumps-to-near-two-year-low-against-usd-as-rate-differential-widens.md) | +3.8% | -3.1% |
| SOY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -2.8% | -1.9% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-06-09/china-central-banker-signals-no-specific-yuan-level-important

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