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The US dollar rose against the yuan to 6.8290 and against the Australian dollar after a source said the White House would propose 25% tariffs on $200 billion of Chinese imports instead of 10%. The yen also weakened after the Bank of Japan pledged to keep rates low for an extended period.
Higher proposed tariffs on Chinese imports threaten US farm export demand and Chinese purchasing, and a weaker yuan makes US exports more expensive for Chinese buyers.
businesstimes.com.sgJul 31, 2018After 40 past bullish trade events, USDCNY moved a median +0.6% over 5 sessions (75% higher; middle half +0.0% to +1.4%), and +1.1% over 20.
Not enough comparable past events yet for a historical read.
After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
