Exclusive: China FX regulator surveys banks about positioning as yuan plunges

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.

• Nov 18, 2016Exclusive - China ready to slow yuan descent, worried about capital outflows: sources+0.7%
• Jul 4, 2018Exclusive: China to be less interventionist on yuan than in 2015 - sources | Reuters+0.6%
• Sep 14, 2023Exclusive: China asks big banks to stagger and adjust dollar purchases, sources say+0.2%
• Dec 11, 2024EXCLUSIVE: Chinese authorities are considering a weaker yuan as Trump trade risks loom | Reuters+0.5%
• Feb 7, 2022China could take further measures to rein in yuan- former regulator-0.1%

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

• Jun 28, 2024China’s central bank puts the yuan’s exchange-rate swings in crosshairs | South China Morning Post-0.7%
• Nov 14, 2016Chinese yuan tumbles to a seven-year low as dollar surges | South China Morning Post+1.4%
• Jun 17, 2021China’s PBOC Braces for Weaker Yuan as Fed Plans Tapering - Bloomberg+1.1%
• Nov 16, 2016China’s Yuan Tumbles to Eight-Year Low as Banks Weaken Forecasts - Bloomberg+0.6%
• Jan 3, 2017China Inc.’s Large Dollar Debts Fuel Beijing’s Efforts to Curb Yuan Plunge+0.1%