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The PBOC largely halted currency intervention in March, with China's FX reserves edging up to $3.009 trillion at end-March. Analysts said the halt may be temporary and the yuan could depreciate again if the US dollar rallies.
Moderating capital outflows were also cited.
Renewed yuan weakness would raise the cost of imports in dollar terms for Chinese buyers and could reduce their purchasing of US feed commodities. The effect on prices is modest and indirect.
scmp.comApr 10, 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.
