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The yuan has fallen about 7 percent against the dollar since April and touched roughly 6.85 per dollar in offshore trading. US President Trump and Treasury Secretary Mnuchin accused Beijing of deliberately weakening the currency to offset US tariffs.
If the depreciation is seen as a deliberate offset to tariffs, it adds a currency layer to the trade dispute that could further reduce Chinese purchases of US soybeans, corn and other feed inputs.
dw.comSrinivas MazumdaruJul 30, 2018After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
