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PBOC MPC member Huang Yiping said China will give its currency greater flexibility, expand its free floating range and reduce FX intervention. The comments came ahead of the US-China Comprehensive Economic Dialogue in Washington.
Signals of greater yuan flexibility add currency uncertainty to China's dollar-priced grain and feed purchases, with limited direct price impact.
octaafrica.netJul 18, 2017After 42 past neutral policy events, USDCNY moved a median -0.0% over 5 sessions (50% higher; middle half -0.3% to +0.4%), 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.
