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Breakingviews argues China's commitment to a stable yuan is weakening after the currency moved below 6.7 per dollar, a level state banks had recently defended. The commentary attributes the move to a greenback rally and cooling Chinese growth rather than export competitiveness.
Persistent currency weakness raises the cost of dollar-priced US feed imports for Chinese buyers and may weigh on demand, though the commentary frames the move as less a deliberate trade tool.
reuters.comPete SweeneyJul 19, 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.
