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An SCMP analysis argues Beijing is unlikely to devalue the yuan to handle US trade frictions, citing its priority on curbing financial risk and its goal of building a global currency. It recalls the August 2015 devaluation and the confusion it caused.
Expectation of no devaluation reduces the chance of a currency offset to US tariffs on soybeans, keeping tariff pressure on US feed commodity prices.
scmp.comYujing LiuApr 12, 2018After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), 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.
