# Opinion: Why China’s Currency Is Becoming a Safe Haven - Caixin Global

> A Caixin opinion piece argues the yuan is behaving more like a safe-haven currency, appreciating about 6% against the dollar since mid-2017 and rising in risk-averse periods. The CFETS basket index also gained more than 4%.

- Date: 2018-05-10 · published 2018-05-10T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/65236-opinion-why-china-s-currency-is-becoming-a-safe-haven-caixin-global
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A yuan that does not simply track the dollar reduces the pass-through of dollar strength into Chinese import costs, so currency alone is unlikely to drive feed commodity prices.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-04-10 | [Opinion \| Why PBOC’s halt in currency intervention may be temporary \| South China Morning Post](https://feedsoft.ai/events/71711-opinion-why-pboc-s-halt-in-currency-intervention-may-be-temporary-south-china.md) | -0.2% | +0.1% |
| USDCNY | 2017-10-04 | [China’s currency balancing act \| ANZ](https://feedsoft.ai/events/68680-china-s-currency-balancing-act-anz.md) | -1.0% | -0.8% |
| USDCNY | 2022-03-01 | [China's renminbi (CNY) will benefit from its safe haven status \| Oxford Economics](https://feedsoft.ai/events/42490-china-s-renminbi-cny-will-benefit-from-its-safe-haven-status-oxford-economics.md) | +0.2% | +1.0% |
| USDCNY | 2022-02-23 | [Fisher: Why U.S. Rate Hikes Won’t Whack the Yuan — or Chinese Stocks - Caixin Global](https://feedsoft.ai/events/42931-fisher-why-u-s-rate-hikes-won-t-whack-the-yuan-or-chinese-stocks-caixin-global.md) | -0.2% | +0.6% |
| USDCNY | 2023-12-27 | [How China Manages Its Currency—and Why That Matters](https://feedsoft.ai/events/32924-how-china-manages-its-currency-and-why-that-matters.md) | +0.1% | +0.4% |

## Sources

- caixinglobal.com: https://www.caixinglobal.com/2018-05-10/opinion-why-chinas-currency-is-becoming-a-safe-haven-101247396.html

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