# Chinese yuan hits fresh low against USD Wednesday

> The yuan's central parity rate weakened to 6.5569 against the dollar on Wednesday, a new 2018 low. Analysts attributed the move to a stronger dollar, the US Fed's rate hike, easing policies at European and Japanese central banks, and trade friction concerns. The yuan can move 2% either side of the parity rate each day.

- Date: 2018-06-28 · published 2018-06-28T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/64734-chinese-yuan-hits-fresh-low-against-usd-wednesday
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan reduces Chinese buying power for US soybeans, corn and meal, which can weigh on US feed grain prices. The trade-friction driver also signals risk to export demand.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-08-25 | [Chinese yuan weakens to 6.6579 against USD Friday - Chinadaily.com.cn](https://feedsoft.ai/events/10858-chinese-yuan-weakens-to-6-6579-against-usd-friday-chinadaily-com-cn.md) | -1.1% | -1.1% |
| USDCNY | 2022-09-28 | [Chinese yuan: Currency hits record lows against US dollar - BBC News](https://feedsoft.ai/events/7208-chinese-yuan-currency-hits-record-lows-against-us-dollar-bbc-news.md) | -0.9% | -0.1% |
| USDCNY | 2019-12-09 | [Chinese yuan weakens to 7.0405 against USD Monday_Xinhua Finance Agency](https://feedsoft.ai/events/8446-chinese-yuan-weakens-to-7-0405-against-usd-monday-xinhua-finance-agency.md) | -0.6% | -1.3% |
| USDCNY | 2020-06-29 | [Chinese yuan weakens to 7.0808 against USD Monday_Xinhua Finance Agency](https://feedsoft.ai/events/52827-chinese-yuan-weakens-to-7-0808-against-usd-monday-xinhua-finance-agency.md) | -0.9% | -1.2% |
| USDCNY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -1.2% | +0.3% |

## Sources

- ecns.cn: http://www.ecns.cn/news/economy/2018-06-28/detail-ifyvrptq6363673.shtml

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