◂ Event Timeline

Jul 19, 2017POLICYChina

USDCNY: Trading band to widen?

RBC analysts noted SAFE Vice Head Yang Guozhong called for widening the yuan's plus or minus 2 percent daily trading band. The band is currently not a binding constraint.

WHY IT MATTERS

A wider trading band would increase yuan volatility, which can affect the pricing of dollar-denominated feed imports into China.

AFFECTSChinese Yuan (CNY per USD)◆

SOURCE
octaafrica.netJul 19, 2017

Price reaction & history

Chinese Yuan (CNY per USD)◆neutralSO FAR1d +0.1%5d +0.1%20d -0.9%

After 42 past neutral policy events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (50% higher; middle half -0.3% to +0.4%), and -0.2% over 20.

Jul 18, 2017China will look to give its currency greater flexibility – RBC CM — Octa-0.3%
Jul 12, 2017PBOC: China should expand Renminbi's trading band - People's Daily Online-0.8%
Dec 31, 2024China to lower dollar, euro and yen weightings in CFETS yuan basket in 2025+0.4%
Jan 1, 2017China tweaks yuan basket to play down US dollar | South China Morning Post-0.1%
Jan 13, 2023China’s yuan: central bank to boost flexibility of exchange rate to handle ‘shocks’ from overseas monetary policy | South China Morning Post+0.7%

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.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

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