# Yen And Aussie Soften In The Wake Of Yuans Decline - Global Financial Market Review

> The Chinese yuan sold off in Asian trading on Monday, dragging down the yen, Australian dollar and New Zealand dollar. The move followed data showing deepening Chinese deflation, which also weighed on Hong Kong stocks. Analysts said the yuan's direction depended on Chinese economic data due later in the week.

- Date: 2023-12-11 · published 2023-12-11T12:00:00.000Z
- Category: market · region Asia · magnitude low
- Page: https://feedsoft.ai/events/6460-yen-and-aussie-soften-in-the-wake-of-yuans-decline-global-financial-market
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

The broad Asian currency weakness reduces regional import purchasing power for feed ingredients, but the commodity price impact is limited without a specific supply shock.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- gfmreview.com: https://www.gfmreview.com/index.php/markets/yen-and-aussie-soften-in-the-wake-of-yuan-s-decline

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