# Yuan bounces as traders brace for US election volatility - Markets - Business Recorder

> The yuan touched a two-week high on Monday ahead of the US election, with onshore opening at 7.1040 per dollar. One-week offshore implied volatility reached its highest since 2015, and the currency had its largest monthly drop in over a year in October.

- Date: 2024-11-04 · published 2024-11-04T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/6695-yuan-bounces-as-traders-brace-for-us-election-volatility-markets-business
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Traders expect a Trump win could bring higher tariffs on Chinese goods, which would pressure the yuan and feed through to Chinese demand for feed commodities priced in dollars.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-04-28 | [China's yuan steady as traders await Fed meet - Markets - Business Recorder](https://feedsoft.ai/events/19949-china-s-yuan-steady-as-traders-await-fed-meet-markets-business-recorder.md) | +0.1% | -0.5% |
| USDCNY | 2023-09-22 | [China’s yuan bounces on state bank support, offshore tightness - Markets - Business Recorder](https://feedsoft.ai/events/34329-china-s-yuan-bounces-on-state-bank-support-offshore-tightness-markets-business.md) | -0.1% | +0.1% |
| USDCNY | 2023-02-01 | [China’s yuan steadies ahead of Fed decision - Markets - Business Recorder](https://feedsoft.ai/events/37554-china-s-yuan-steadies-ahead-of-fed-decision-markets-business-recorder.md) | +0.5% | +1.7% |
| USDCNY | 2022-03-01 | [Yuan eases - Business & Finance - Business Recorder](https://feedsoft.ai/events/42486-yuan-eases-business-and-finance-business-recorder.md) | +0.2% | +1.0% |
| USDCNY | 2021-10-22 | [China's yuan eases after regulator warn of possible actions to counter higher fluctuations - Markets - Business Recorder](https://feedsoft.ai/events/44778-china-s-yuan-eases-after-regulator-warn-of-possible-actions-to-counter-higher.md) | -0.0% | -0.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40330562

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