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Westpac analyst Frances Cheung said the USD/CNY fix has recently moved less in line with the DXY dollar index. Westpac expects the yuan to follow the broad dollar more closely and sees upward bias in USD/CNY, with foreign inflows into onshore NCDs a factor.
Currency forecasts shape the cost of Chinese purchases of US feed ingredients priced in dollars. The view is an analyst opinion and does not by itself move commodity prices.
octaafrica.netNov 6, 2017After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.
