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The offshore yuan posted its biggest weekly gain in over ten months as money-market rates rose and policymakers tightened curbs on capital outflows. The dollar's three-week rally also faltered.
Tighter capital controls and a firmer yuan reduce near-term pressure on Chinese dollar-denominated import costs, though the effect on feed demand is modest.
bloomberg.comBloomberg NewsDec 2, 2016After 362 past bearish macro events, USDCNY moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
