# Yuan's surge knocks dollar as China moves on speculators

> Offshore yuan borrowing costs in Hong Kong jumped to 96 percent, helping the yuan post its biggest two-day gain for the offshore currency since its 2010 launch. The move triggered profit-taking on the dollar, which fell more than 1 percent against the yen and to as low as $1.0575 per euro.

- Date: 2017-01-05 · published 2017-01-05T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/73171-yuan-s-surge-knocks-dollar-as-china-moves-on-speculators
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer yuan makes dollar-priced commodity imports slightly cheaper for Chinese buyers, which can modestly support soybean and corn demand. The effect on grain prices is limited because the move was driven mainly by currency management.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-01-05 | [China’s offshore yuan surges most against dollar in a year](https://feedsoft.ai/events/73180-china-s-offshore-yuan-surges-most-against-dollar-in-a-year.md) | +0.1% | -1.0% |
| USDCNY | 2025-09-25 | [China's yuan surges to 10-month high against dollar as US tensions ease - Nikkei Asia](https://feedsoft.ai/events/23112-china-s-yuan-surges-to-10-month-high-against-dollar-as-us-tensions-ease-nikkei.md) | -0.2% | -0.1% |
| USDCNY | 2022-10-26 | [CNY/USD: Offshore Yuan Rises Most on Record as China Banks Sell Dollars - Bloomberg](https://feedsoft.ai/events/39355-cny-usd-offshore-yuan-rises-most-on-record-as-china-banks-sell-dollars-bloomberg.md) | +0.1% | -1.5% |
| USDCNY | 2017-01-05 | [Dollar eases off 14-year peak as yuan's jump spooks investors](https://feedsoft.ai/events/10247-dollar-eases-off-14-year-peak-as-yuan-s-jump-spooks-investors.md) | +0.1% | -1.0% |
| USDCNY | 2019-11-05 | [China: Yuan surges past 7 per dollar for the first time since August](https://feedsoft.ai/events/56293-china-yuan-surges-past-7-per-dollar-for-the-first-time-since-august.md) | -0.3% | +0.3% |
| DXY | 2017-01-05 | [Dollar eases off 14-year peak as yuan's jump spooks investors](https://feedsoft.ai/events/10247-dollar-eases-off-14-year-peak-as-yuan-s-jump-spooks-investors.md) | +0.1% | -2.7% |
| DXY | 2022-11-01 | [China's yuan bounces from 15-year low as dollar bulls retreat \| Reuters](https://feedsoft.ai/events/38900-china-s-yuan-bounces-from-15-year-low-as-dollar-bulls-retreat-reuters.md) | -1.0% | -3.2% |
| DXY | 2022-12-05 | [Yuan jumps past 7 per dollar as China eases some COVID curbs](https://feedsoft.ai/events/38449-yuan-jumps-past-7-per-dollar-as-china-eases-some-covid-curbs.md) | +0.3% | +0.1% |

## Sources

- reuters.com: https://www.reuters.com/article/global-forex-idUSL5N1EV2U1/?feedName=usDollarRpt&feedType=RSS

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.