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The yuan strengthened on July 5 as state banks sold dollars, although the PBOC set the midpoint weaker for a third straight day. Traders remained wary of official currency intervention and seasonal corporate dollar demand for dividends.
State intervention to support the yuan adds uncertainty to Chinese import costs, which can dampen near-term buying of US feed commodities.
businesstimes.com.sgJul 4, 2017After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% 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.
