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Nomura says the yuan may already be overvalued against the US dollar and is likely to move lower as China eases monetary and credit policy. The bank argues that US efforts to lock the yuan at a stable level in trade talks would backfire.
A weaker yuan makes Chinese purchases of dollar-priced feed ingredients costlier, which can dampen demand and pressure US export prices.
cnbc.comKelly OlsenMar 11, 2019After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
