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Analysis describes how the won fell to near 1,200 per dollar in May as the US-China trade war intensified, with the currency moving in step with the yuan. Investors buying yuan assets use won derivatives to hedge, making the won a yuan proxy.
Currency-driven swings in Korean demand and yuan hedging flows add uncertainty to China's import appetite for feed commodities.
asiatimes.comLee Shin-hyungJun 24, 2019After 40 past bullish trade events, Chinese Yuan (CNY per USD) moved a median +0.6% over 5 sessions (75% higher; middle half +0.0% to +1.4%), and +1.1% over 20.
Not enough comparable past events yet for a historical read.
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.
