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The dollar fell as rate-hike bets grew in other economies, while the yuan reached a four-month peak. Fears of contagion from China Evergrande's debt problems eased after some peers made bond coupon payments.
Policymakers had said the situation was under control.
A weaker dollar tends to support dollar-denominated commodity prices, including grains and oilseeds. Easing Chinese property stress also improves the outlook for Chinese feed demand.
reuters.comSujata RaoOct 19, 2021After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 362 past bearish macro events, Chinese Yuan (CNY per USD) 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.
A weaker dollar on rate-hike bets elsewhere together with easing Evergrande fears pushed the yuan to a four-month peak on the same day.
