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Analysts expect the onshore yuan to stay near 6.7 per dollar for the rest of the second quarter, with a possible moderate gain toward 6.6. The currency rose about 1.9% year to date, helped by emerging-market inflows, a rally in Chinese stocks and easing trade tensions.
Inclusion of Chinese bonds in a global index is also expected to support the currency.
A stronger yuan gives Chinese buyers more purchasing power for dollar-priced feed ingredients. Stability near current levels implies no major currency-driven change in import costs.
chinadaily.com.cnZhou LanxuApr 29, 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.
