# Yuan's slide to decade low puts China in tricky position - Nikkei Asia

> The yuan slid to a 10-year low of 6.9701 per dollar on Tuesday, close to the politically sensitive level of 7. Markets are watching whether Beijing will intervene to stop the currency falling below that level.

- Date: 2018-10-30 · published 2018-10-30T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/62765-yuan-s-slide-to-decade-low-puts-china-in-tricky-position-nikkei-asia
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A break below 7 per dollar could trigger capital flight and force Beijing to spend reserves or tighten controls, which adds volatility to Chinese import demand. Intervention that strengthens the yuan would cut the dollar cost of Chinese purchases of US feed ingredients.

## Read by commodity

- 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 | 2024-05-29 | [Chinese yuan falls to six-month low on dollar strength - Nikkei Asia](https://feedsoft.ai/events/30488-chinese-yuan-falls-to-six-month-low-on-dollar-strength-nikkei-asia.md) | -0.1% | +0.3% |
| USDCNY | 2017-03-02 | [China struggles to plug its capital drain - Nikkei Asia](https://feedsoft.ai/events/72227-china-struggles-to-plug-its-capital-drain-nikkei-asia.md) | +0.5% | +0.1% |
| USDCNY | 2022-05-09 | [Chinese Yuan Slips To An 18-Month Low - Asia Financial News](https://feedsoft.ai/events/8317-chinese-yuan-slips-to-an-18-month-low-asia-financial-news.md) | +1.8% | -0.2% |
| USDCNY | 2022-04-21 | [China's yuan slides to 6-month low as tightening prospects help dollar \| Financial Post](https://feedsoft.ai/events/7337-china-s-yuan-slides-to-6-month-low-as-tightening-prospects-help-dollar.md) | +2.2% | +5.2% |

## Sources

- asia.nikkei.com: https://asia.nikkei.com/business/markets/currencies/yuan-s-slide-to-decade-low-puts-china-in-tricky-position

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