Loading…
Deputy Governor Yi Gang and ambassador Cui Tiankai told a New York conference that China will improve yuan convertibility after cutting capital outflows and corporate overleveraging. They also warned the US against trade barriers.
The PBOC plans easier offshore yuan payment infrastructure.
Trade-barrier warnings bear on US-China agricultural trade risk, but the piece is mainly about currency reform timing. The direct commodity impact is limited.
scmp.comApr 24, 2017After 138 past policy events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (47% higher; middle half -0.4% to +0.4%), and -0.1% 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.
