# China’s yuan dips as fresh COVID outbreaks offset reopening optimism - Markets - Business Recorder

> The yuan slipped slightly against the dollar as COVID cases escalated in Guangzhou and other major cities, which Reuters described as the city's worst flare-up. Unexpectedly weak trade data added to the pressure, offsetting optimism about eventual reopening.

- Date: 2022-11-08 · published 2022-11-08T12:00:00.000Z
- Category: disease · region China · magnitude low
- Page: https://feedsoft.ai/events/6249-china-s-yuan-dips-as-fresh-covid-outbreaks-offset-reopening-optimism-markets
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Rising COVID restrictions hurt Chinese manufacturing and feed demand, and a softer yuan raises the local cost of dollar-priced grain and meal imports.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-09-05 | [China’s yuan touches 2-year low on dollar strength, COVID resurgence - Markets - Business Recorder](https://feedsoft.ai/events/12274-china-s-yuan-touches-2-year-low-on-dollar-strength-covid-resurgence-markets.md) | +0.4% | +3.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40207680

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