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The yuan surged to a two-and-a-half week high against the dollar after the PBOC revived its counter-cyclical factor in the daily fixing. The official midpoint was set at 6.8508, stronger than Friday's fix.
A firmer yuan reduces the cost of dollar-priced US farm imports for China, supporting purchasing capacity for soybeans and feed ingredients.
news.cgtn.comCGTNAug 27, 2018After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
