# China says it will do battle with speculators betting against its currency

> China says it will act against speculators betting against the yuan, as the currency has fallen more than 9% against the dollar since January. The decline is linked to Federal Reserve rate hikes and concerns about China's slowing economy, and it is nearing the key 7 per dollar level.

- Date: 2018-10-26 · published 2018-10-26T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/62768-china-says-it-will-do-battle-with-speculators-betting-against-its-currency
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A sustained yuan decline raises the dollar cost of Chinese imports and can slow purchases of US soybeans and other feed inputs. Beijing's crackdown on speculators signals it will defend the currency, which may limit further import-price shocks.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-12-29 | [What Is China Trying to Do With Its Currency?    - WSJ](https://feedsoft.ai/events/73691-what-is-china-trying-to-do-with-its-currency-wsj.md) | -1.0% | -1.1% |
| USDCNY | 2019-04-30 | [China is letting its currency decline in a 'snub' to Trump, ING says](https://feedsoft.ai/events/59802-china-is-letting-its-currency-decline-in-a-snub-to-trump-ing-says.md) | +0.4% | +2.6% |
| USDCNY | 2022-05-13 | [China’s currency just had its worst month ever. It’s still dropping](https://feedsoft.ai/events/9855-china-s-currency-just-had-its-worst-month-ever-it-s-still-dropping.md) | -1.1% | -1.1% |
| USDCNY | 2022-09-28 | [Chinese yuan: Currency hits record lows against US dollar - BBC News](https://feedsoft.ai/events/7208-chinese-yuan-currency-hits-record-lows-against-us-dollar-bbc-news.md) | -0.9% | -0.1% |
| USDCNY | 2019-06-11 | [Why ‘cracking seven’ is a big deal for China’s currency](https://feedsoft.ai/events/58820-why-cracking-seven-is-a-big-deal-for-china-s-currency.md) | -0.1% | -0.6% |

## Sources

- cnn.com: https://www.cnn.com/2018/10/26/investing/china-currency-rmb-yuan

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