# Yuan Looks More Like Floating Currency Now, Fed Study Shows - Bloomberg

> A New York Fed staff study concluded that the yuan's daily fixing now responds to market forces and largely tracks the previous day's dollar-yuan move. Daily trading fluctuations remain unusually low.

- Date: 2017-11-16 · published 2017-11-16T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/68224-yuan-looks-more-like-floating-currency-now-fed-study-shows-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A more market-driven yuan makes exchange-rate moves more predictable for importers pricing US feed and grain. It has no direct effect on feed supply or demand.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-06-17 | [Fed Surprise May Herald New Era of Asian Currency Weakness - Bloomberg](https://feedsoft.ai/events/46827-fed-surprise-may-herald-new-era-of-asian-currency-weakness-bloomberg.md) | +1.2% | +1.0% |
| USDCNY | 2018-01-09 | [China Changes the Way It Manages Yuan After Currency's Jump - Bloomberg](https://feedsoft.ai/events/67197-china-changes-the-way-it-manages-yuan-after-currency-s-jump-bloomberg.md) | -0.9% | -3.3% |
| USDCNY | 2017-01-16 | [Yuan Top Forecaster Sees No End to Losses as China Economy Slows - Bloomberg](https://feedsoft.ai/events/11878-yuan-top-forecaster-sees-no-end-to-losses-as-china-economy-slows-bloomberg.md) | -0.6% | -0.5% |
| USDCNY | 2017-11-22 | [China's Banks Are Getting Ready for Bigger Swings in the Yuan - Bloomberg](https://feedsoft.ai/events/68222-china-s-banks-are-getting-ready-for-bigger-swings-in-the-yuan-bloomberg.md) | -0.3% | -0.7% |
| USDCNY | 2017-09-07 | [PBOC Hasn't Embraced Yuan Gains Like This Since the Arab Spring - Bloomberg](https://feedsoft.ai/events/7800-pboc-hasn-t-embraced-yuan-gains-like-this-since-the-arab-spring-bloomberg.md) | +0.3% | +2.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-11-16/yuan-looks-more-like-floating-currency-nowadays-fed-study-shows

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