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The People's Bank of China pledged to let market forces play a fundamental role and to make the yuan more flexible in both directions. The currency has rebounded more than 2% so far this year, and enforcement of any currency commitment remains an open trade-talk issue.
Greater yuan flexibility and a clear enforcement mechanism would reduce the risk of depreciation that could erode China's dollar-based demand for US commodities.
gulf-times.comBloomberg/Hong KongFeb 25, 2019After 42 past neutral policy events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (50% higher; middle half -0.3% to +0.4%), 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.
