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A central bank adviser said China should use part of its foreign reserves to stabilize yuan expectations, arguing the exchange rate has overshot. The yuan has fallen to eight-and-a-half-year lows against the dollar.
Possible reserve intervention to support the yuan would signal Beijing's effort to limit depreciation, which could ease pressure on import costs for feed buyers.
reuters.comDec 3, 2016After 50 past bearish policy events, USDCNY moved a median -0.1% over 5 sessions (46% higher; middle half -0.4% to +0.4%), 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.
