# China to defend 7 yuan per dollar rate, but may find it tough: Reuters poll

> A Reuters poll of 60 strategists found 28 expect the yuan to weaken to 7 per dollar or further within a year, the highest count since July 2017. The yuan hit its weakest level since the global financial crisis at 6.9748 per dollar.

- Date: 2018-11-01 · published 2018-11-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/62264-china-to-defend-7-yuan-per-dollar-rate-but-may-find-it-tough-reuters-poll
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Expectations of further yuan weakness signal softer Chinese import demand for US farm goods, since a weaker currency raises the dollar cost of imports. This is bearish for US soybeans and feed commodities.

## Read by commodity

- SOY: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-11-01 | [China’s Yuan Drops to a Decade-Low, 7 Per Dollar Now in Sight](https://feedsoft.ai/events/62762-china-s-yuan-drops-to-a-decade-low-7-per-dollar-now-in-sight.md) | -0.8% | -0.3% |
| USDCNY | 2019-08-09 | [China lowers yuan mid-point to fresh 11-year low, but higher than forecasts \| Reuters](https://feedsoft.ai/events/8381-china-lowers-yuan-mid-point-to-fresh-11-year-low-but-higher-than-forecasts.md) | -0.2% | +1.0% |
| USDCNY | 2024-03-22 | [China yuan slides to four-month low, state banks step in \| Reuters](https://feedsoft.ai/events/31441-china-yuan-slides-to-four-month-low-state-banks-step-in-reuters.md) | +0.4% | +0.5% |
| USDCNY | 2016-12-29 | [China expands CFETS index basket, yuan seen weakening vs. dollar By Reuters](https://feedsoft.ai/events/73681-china-expands-cfets-index-basket-yuan-seen-weakening-vs-dollar-by-reuters.md) | -1.0% | -1.1% |
| USDCNY | 2025-01-17 | [Markets are betting China will let yuan fall as Trump takes power, but not much \| Reuters](https://feedsoft.ai/events/26716-markets-are-betting-china-will-let-yuan-fall-as-trump-takes-power-but-not-much.md) | -1.2% | -1.1% |
| SOY | 2023-09-28 | [Dollar index powers to 10-month high - Business & Finance - Business Recorder](https://feedsoft.ai/events/34310-dollar-index-powers-to-10-month-high-business-and-finance-business-recorder.md) | -2.3% | -1.2% |
| SOY | 2019-06-11 | [For China's yuan, the path toward 7 per dollar is now wide open \| The Straits Times](https://feedsoft.ai/events/58818-for-china-s-yuan-the-path-toward-7-per-dollar-is-now-wide-open-the-straits-times.md) | +6.3% | +2.8% |
| SOY | 2021-06-16 | [Dollar jumps after Fed pulls interest rate hikes into 2023 \| Reuters](https://feedsoft.ai/events/5929-dollar-jumps-after-fed-pulls-interest-rate-hikes-into-2023-reuters.md) | -4.9% | +0.1% |

## Sources

- reuters.com: https://www.reuters.com/article/business/china-to-defend-7-yuan-per-dollar-rate-but-may-find-it-tough-reuters-poll-idUSKCN1N63EV/

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