# China's yuan finishes onshore trading at weakest since 2008 By Reuters

> The yuan closed at 6.9560 per dollar on the Shanghai onshore market, its weakest close in over a decade. Broad dollar strength and global slowdown concerns were the main drivers, and traders expect the yuan could breach 7 per dollar in coming months.

- Date: 2018-10-29 · published 2018-10-29T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/62763-china-s-yuan-finishes-onshore-trading-at-weakest-since-2008-by-reuters
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Broad dollar strength combined with a weaker yuan makes US agricultural exports less competitive for Chinese buyers. Expectations of a breach of 7 per dollar keep currency-driven demand risk in view for feed commodities.

## Read by commodity

- DXY: bullish ▲
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-09-28 | [China's yuan ends at weakest since global financial crisis, hits record low offshore \| Reuters](https://feedsoft.ai/events/7206-china-s-yuan-ends-at-weakest-since-global-financial-crisis-hits-record-low.md) | -0.9% | -0.1% |
| USDCNY | 2024-11-07 | [CNY/USD: China Sets Yuan Fix at Weakest Since 2023 - Bloomberg](https://feedsoft.ai/events/6857-cny-usd-china-sets-yuan-fix-at-weakest-since-2023-bloomberg.md) | +0.7% | +1.3% |
| USDCNY | 2024-02-20 | [Onshore yuan trades at its weakest against dollar since November last year](https://feedsoft.ai/events/31900-onshore-yuan-trades-at-its-weakest-against-dollar-since-november-last-year.md) | +0.1% | +0.1% |
| USDCNY | 2024-07-01 | [China Loosens Grip on Yuan With Weakest Fixing Since November](https://feedsoft.ai/events/30008-china-loosens-grip-on-yuan-with-weakest-fixing-since-november.md) | +0.0% | -0.1% |
| USDCNY | 2022-12-06 | [China's yuan slips, traders wary of reopening risks \| Reuters](https://feedsoft.ai/events/6574-china-s-yuan-slips-traders-wary-of-reopening-risks-reuters.md) | +0.2% | -1.1% |
| DXY | 2022-09-28 | [China's yuan ends at weakest since global financial crisis, hits record low offshore \| Reuters](https://feedsoft.ai/events/7206-china-s-yuan-ends-at-weakest-since-global-financial-crisis-hits-record-low.md) | -1.8% | -1.5% |
| DXY | 2022-12-06 | [China's yuan slips, traders wary of reopening risks \| Reuters](https://feedsoft.ai/events/6574-china-s-yuan-slips-traders-wary-of-reopening-risks-reuters.md) | +0.1% | -0.9% |
| DXY | 2016-06-27 | [China Weakens Yuan Fixing by Most Since August as Dollar Surges - Bloomberg](https://feedsoft.ai/events/12454-china-weakens-yuan-fixing-by-most-since-august-as-dollar-surges-bloomberg.md) | -0.4% | +0.9% |

## Sources

- investing.com: https://www.investing.com/news/forex-news/chinas-yuan-finishes-onshore-trading-at-weakest-since-2008-1663319

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