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The onshore and offshore yuan both broke through 6.65 per dollar on November 2, with the onshore rate reaching its strongest level in over four years. The People's Bank of China set the daily midpoint at 6.7146, weaker than the prior day and well below the Reuters forecast of 6.6625.
A firmer yuan makes Chinese imports of US and Brazilian feed inputs cheaper in local terms, but the PBOC's weaker fixing signals Beijing is slowing appreciation, limiting the currency's effect on commodity demand. Exporter conversion of dollar earnings is a key support.
ctee.com.tw工商時報 張漢驊Nov 2, 2026After 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.
