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Bank of Korea Governor Lee Ju-yeol said the central bank will respond when moves in the won are too large, while keeping its currency stance unchanged. He said monetary policy is not set on exchange rates alone.
The People's Bank of China also set its USD/CNY midpoint at 6.5043, weaker than the previous 6.4920.
Intervention threats limit the won's rise, while the weaker yuan fixing signals Chinese currency policy that can affect Asian feed import costs. The price impact on feed commodities is modest.
octaafrica.netJan 4, 2018Not enough comparable past events yet for a historical read.
After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), 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.
