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China will expand the CFETS RMB Index basket from 13 to 24 currencies starting January 1, the foreign exchange market operator said. The yuan has fallen almost 7 percent against the dollar this year and is near an 8.5-year low.
Analysts expect the yuan to keep weakening against the dollar in 2017, which raises the dollar cost of Chinese imports of feed ingredients.
investing.comDec 29, 2016After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), 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.
