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The dollar index was flat in quiet trade ahead of the US midterm elections, with markets awaiting BoE and RBA rate decisions. The yuan weakened after the PBoC announced a 2-percentage-point increase in its FX reserve requirement ratio, effective November 15.
The PBoC move reduces dollar liquidity and signals an effort to slow yuan appreciation, which affects Chinese import demand for dollar-priced farm goods. The article describes routine FX moves rather than a new commodity driver.
newsquawk.comNov 3, 2026Not enough comparable past events yet for a historical read.
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.
