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The yuan hovered near a one-month low against the dollar and was on track for its largest weekly decline since September. The move followed a rebound in the dollar after Fed officials projected earlier rate hikes.
The weekly yuan drop tracks dollar strength driven by the Fed, which makes dollar-priced feed imports costlier for China and can weigh on export demand for U.S. commodities.
brecorder.comReutersJun 18, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
The yuan's largest weekly drop since September, following the dollar rebound after the Fed's signal, closely matches the 5-day move.
