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The renminbi closed at 6.5915 per dollar on August 30 after the central parity was set 191 basis points stronger, its highest since August 2016. The dollar index fell to about 92.34, near its lowest since January 2015.
A weaker dollar index supports dollar-priced commodities such as grains and meal by making them cheaper for foreign buyers, while the firmer yuan modestly lowers Chinese import costs.
news.cgtn.comAug 30, 2017After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
