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China's foreign exchange regulator said the yuan's recent gains are driven by the economy and a weaker dollar. It expects two-way fluctuations to be the norm.
It also said Chinese investment in US Treasuries is market-driven and that the Fed's policy impact on capital flows is weakening.
The comments signal that the yuan will move more freely in both directions, which adds currency volatility to dollar-priced feed import costs. The statement itself does not signal a clear directional move.
scmp.comReutersJan 18, 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.
