# China is letting its currency decline in a 'snub' to Trump, ING says

> ING says China has let the yuan weaken slightly in recent weeks, down 0.2% against the dollar in March and 0.3% in April so far. The central bank has kept the currency in a narrow range while emphasizing stability. ING reads the move as a signal that Beijing's currency policy is independent of US pressure.

- Date: 2019-04-30 · published 2019-04-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/59802-china-is-letting-its-currency-decline-in-a-snub-to-trump-ing-says
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan makes Chinese exports cheaper and slightly reduces the appetite for US farm goods priced in dollars. The effect is small, but it shows Beijing is not conceding to Washington on currency.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-12-29 | [What Is China Trying to Do With Its Currency?    - WSJ](https://feedsoft.ai/events/73691-what-is-china-trying-to-do-with-its-currency-wsj.md) | -1.0% | -1.1% |
| USDCNY | 2018-10-26 | [China says it will do battle with speculators betting against its currency](https://feedsoft.ai/events/62768-china-says-it-will-do-battle-with-speculators-betting-against-its-currency.md) | -0.4% | -0.1% |
| USDCNY | 2019-06-11 | [Why ‘cracking seven’ is a big deal for China’s currency](https://feedsoft.ai/events/58820-why-cracking-seven-is-a-big-deal-for-china-s-currency.md) | -0.1% | -0.6% |
| USDCNY | 2022-09-26 | [China Lets Its Currency Weaken Past a Key Barrier and Tries to Manage the Fall](https://feedsoft.ai/events/7211-china-lets-its-currency-weaken-past-a-key-barrier-and-tries-to-manage-the-fall.md) | -0.2% | +1.9% |
| USDCNY | 2024-12-03 | [China’s yuan hits lowest level in months as Trump tariff threats roil currencies \| South China Morning Post](https://feedsoft.ai/events/27171-china-s-yuan-hits-lowest-level-in-months-as-trump-tariff-threats-roil.md) | -0.2% | +0.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/04/30/china-is-letting-its-currency-decline-in-a-snub-to-trump-ing-says.html

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