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The yuan's central parity rate rose to 6.3045 per dollar on February 1, its strongest since August 2015. The currency gained 3.38 percent in January, its biggest monthly gain since 1994, and more than half of its 6.72 percent gain for all of 2017.
The dollar index has fallen more than 5 percent since December.
Yuan strength against a weakening dollar lowers the local-currency cost of US imports for China, which can support import demand for feed commodities. The price effect is indirect and mainly reflects broader dollar weakness.
xinhuanet.comFeb 1, 2018After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
