# Yuan Strengthens As Fed Holds Interest Rates Steady - Caixin Global

> The yuan rose to its strongest level against the dollar since July 16 after the Federal Reserve held rates steady and signalled patience on future hikes. The PBOC set the daily parity at 6.7025 per dollar, and the yuan briefly traded below 6.70 for the first time in six and a half months. The Dollar Index fell about 0.7% after the Fed statement.

- Date: 2019-01-31 · published 2019-01-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/61310-yuan-strengthens-as-fed-holds-interest-rates-steady-caixin-global
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan and weaker dollar reduce the cost of dollar-priced feed imports into China and ease pressure on Chinese buyers, though the effect on feed grain prices is modest.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-05-22 | [Analysis: Where Is the Strengthening Yuan Headed? - Caixin Global](https://feedsoft.ai/events/19489-analysis-where-is-the-strengthening-yuan-headed-caixin-global.md) | -0.5% | -0.4% |
| USDCNY | 2021-05-28 | [CX Daily: Yuan’s Strength Seen Continuing as Dollar Weakens - Caixin Global](https://feedsoft.ai/events/47324-cx-daily-yuan-s-strength-seen-continuing-as-dollar-weakens-caixin-global.md) | +0.2% | +1.1% |
| USDCNY | 2016-12-30 | [Yuan Strengthens after China Announces Plans to Expand Currency Basket - Caixin Global](https://feedsoft.ai/events/73679-yuan-strengthens-after-china-announces-plans-to-expand-currency-basket-caixin.md) | -0.5% | -1.1% |
| USDCNY | 2024-09-30 | [Analysis: Improved Capital Returns Key to Sustainable Yuan Strengthening - Caixin Global](https://feedsoft.ai/events/28555-analysis-improved-capital-returns-key-to-sustainable-yuan-strengthening-caixin.md) | +0.1% | +1.6% |
| USDCNY | 2024-07-26 | [Yuan Snaps Losing Streak as Dollar Loses Ground - Caixin Global](https://feedsoft.ai/events/7519-yuan-snaps-losing-streak-as-dollar-loses-ground-caixin-global.md) | +0.2% | -1.2% |

## Sources

- caixinglobal.com: https://www.caixinglobal.com/2019-01-31/yuan-strengthens-as-fed-holds-interest-rate-steady-101376618.html

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