# CNY: Tail risk of a competitive devaluation to be reduced? - ING - Forex Crunch

> ING analysts said a US-China agreement to keep the renminbi stable could lower the tail risk of a competitive devaluation. They noted that FX options markets are already pricing in less risk of a yuan devaluation.

- Date: 2019-02-22 · published 2019-02-22T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/60809-cny-tail-risk-of-a-competitive-devaluation-to-be-reduced-ing-forex-crunch
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Lower devaluation risk would reduce currency-driven swings in Chinese feed-import costs and support steadier demand for US commodities.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-01-05 | [USD/CNY to tick down in the year ahead - MUFG - Forex Crunch](https://feedsoft.ai/events/12072-usd-cny-to-tick-down-in-the-year-ahead-mufg-forex-crunch.md) | +0.3% | +0.0% |
| USDCNY | 2020-10-09 | [USD/CNY catch-up may have more to go - MUFG - Forex Crunch](https://feedsoft.ai/events/5560-usd-cny-catch-up-may-have-more-to-go-mufg-forex-crunch.md) | -1.4% | -2.7% |
| USDCNY | 2020-08-26 | [USD/CNY: Yield advantage to strengthen the yuan - HSBC - Forex Crunch](https://feedsoft.ai/events/51836-usd-cny-yield-advantage-to-strengthen-the-yuan-hsbc-forex-crunch.md) | -1.2% | -1.5% |
| USDCNY | 2025-08-28 | [CNY: A considered move from the PBoC – ING](https://feedsoft.ai/events/23545-cny-a-considered-move-from-the-pboc-ing.md) | -0.2% | -0.3% |
| USDCNY | 2017-12-05 | [Positive signs for China’s ability to rebuild foreign reserves \| ING THINK](https://feedsoft.ai/events/67712-positive-signs-for-china-s-ability-to-rebuild-foreign-reserves-ing-think.md) | -0.0% | -1.8% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2019/02/22/cny-tail-risk-of-a-competitive-devaluation-to-be-reduced-ing/

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