# China’s yuan strengthens past 7 per US dollar amid easing of coronavirus curbs | South China Morning Post

> China's onshore yuan closed at 6.9561 per dollar on Monday, its strongest close since September 13 and past the 7-per-dollar level. Beijing eased some coronavirus curbs, and expectations of slower U.S. rate increases pushed the dollar index near five-month lows.

- Date: 2022-12-05 · published 2022-12-05T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/6581-china-s-yuan-strengthens-past-7-per-us-dollar-amid-easing-of-coronavirus-curbs
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer yuan and weaker dollar lower the local cost of dollar-priced commodity imports, supporting Chinese buying. The move is mostly currency-driven rather than a direct supply change.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2022-12-05 | 5 | -3.4% | -4.8 | Yuan strengthened past 7 per dollar on easing COVID curbs and a softer dollar, which directly matches the CNY per USD decline (yuan appreciation) into 2022-12-05. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-06-20 | [Chinese yuan strengthens ahead of Brexit vote \| South China Morning Post](https://feedsoft.ai/events/10880-chinese-yuan-strengthens-ahead-of-brexit-vote-south-china-morning-post.md) | +0.5% | +1.8% |
| USDCNY | 2022-12-05 | [Yuan jumps past 7 per dollar as China eases some COVID curbs](https://feedsoft.ai/events/38449-yuan-jumps-past-7-per-dollar-as-china-eases-some-covid-curbs.md) | -0.9% | -1.5% |
| USDCNY | 2021-12-08 | [China’s yuan strengthens as trade surplus hits US$72 billion in November amid robust export growth \| South China Morning Post](https://feedsoft.ai/events/11295-china-s-yuan-strengthens-as-trade-surplus-hits-us-72-billion-in-november-amid.md) | +0.0% | +0.3% |
| USDCNY | 2017-08-10 | [China’s yuan strengthens to 10-month high against US dollar](https://feedsoft.ai/events/69675-china-s-yuan-strengthens-to-10-month-high-against-us-dollar.md) | +0.3% | -2.8% |
| USDCNY | 2023-01-03 | [Yuan strengthens to a 4-month high on optimism over prospects of China’s post-Covid economic recovery \| South China Morning Post](https://feedsoft.ai/events/12763-yuan-strengthens-to-a-4-month-high-on-optimism-over-prospects-of-china-s-post.md) | -1.8% | -2.1% |
| DXY | 2022-12-05 | [Yuan jumps past 7 per dollar as China eases some COVID curbs](https://feedsoft.ai/events/38449-yuan-jumps-past-7-per-dollar-as-china-eases-some-covid-curbs.md) | +0.3% | +0.1% |
| DXY | 2017-09-29 | [Can the US dollar make a comeback? \| South China Morning Post](https://feedsoft.ai/events/69153-can-the-us-dollar-make-a-comeback-south-china-morning-post.md) | +0.3% | +1.7% |
| DXY | 2024-08-05 | [As stock sell-off sweeps Asia, China’s yuan surges as US rate cuts loom \| South China Morning Post](https://feedsoft.ai/events/7430-as-stock-sell-off-sweeps-asia-china-s-yuan-surges-as-us-rate-cuts-loom-south.md) | -0.4% | -0.9% |

## Sources

- scmp.com: https://www.scmp.com/economy/economic-indicators/article/3202074/chinas-offshore-yuan-strengthens-past-7-us-dollar-amid-easing-coronavirus-curbs

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