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China's yuan firmed against the dollar after the PBOC set the midpoint at 6.7283, the strongest since October 2016. The currency is on track for a third straight monthly gain, around 0.8% for July.
A firmer yuan reduces China's effective cost of dollar-priced imports and can modestly support Chinese buying of US farm goods, though feed-grain price impact is limited.
businesstimes.com.sgJul 30, 2017After 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.
