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The onshore CNY and offshore CNH have strengthened about 3.5% against the dollar since November, with the CNY trade-weighted index up about 1.8% over the same period. Analysts say Beijing may be allowing yuan strength to placate US officials ahead of trade talks.
The currency is expected to stay firm during the talks that week.
A firm yuan tied to trade diplomacy can support Chinese import demand for US farm goods, but the currency move itself has limited direct effect on feed prices.
econometer.orgJan 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.
