# PBOC Hasn't Embraced Yuan Gains Like This Since the Arab Spring - Bloomberg

> The People's Bank of China set the yuan reference rate higher for a ninth straight session, the longest run of strengthening since early 2011. The gains are the strongest central-bank support for the currency since the Arab Spring period.

- Date: 2017-09-07 · published 2017-09-07T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/7800-pboc-hasn-t-embraced-yuan-gains-like-this-since-the-arab-spring-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Sustained central-bank support for the yuan signals policy tolerance for a stronger currency, which can lower the yuan cost of dollar-priced feed imports. The effect on feed prices is indirect and currency-driven.

## Read by commodity

- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2017-09-08 | 5 | -1.7% | -3.6 | The PBOC's ninth straight stronger fixing signaled official tolerance for yuan appreciation and guided the market lower in CNY per USD. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-06-21 | [USD/CNY: PBOC Gives Strongest Boost to Yuan Since April to Manage Decline - Bloomberg](https://feedsoft.ai/events/30005-usd-cny-pboc-gives-strongest-boost-to-yuan-since-april-to-manage-decline.md) | +0.1% | +0.1% |
| USDCNY | 2017-05-31 | [Yuan Surges in Hong Kong as Traders See PBOC Squeezing Bears - Bloomberg](https://feedsoft.ai/events/5664-yuan-surges-in-hong-kong-as-traders-see-pboc-squeezing-bears-bloomberg.md) | -0.8% | -0.6% |
| USDCNY | 2020-09-01 | [Yuan’s Jump to One-Year High Tests China’s Tolerance for Gains - Bloomberg](https://feedsoft.ai/events/51313-yuan-s-jump-to-one-year-high-tests-china-s-tolerance-for-gains-bloomberg.md) | -0.1% | -0.5% |
| USDCNY | 2021-12-08 | [China's Yuan Highest Since 2018 as Easing Covid Worry Fuels Risk-On - Bloomberg](https://feedsoft.ai/events/11294-china-s-yuan-highest-since-2018-as-easing-covid-worry-fuels-risk-on-bloomberg.md) | +0.0% | +0.3% |
| USDCNY | 2020-06-30 | [Chinese Yuan Gains on Strong PMI Readings, PBoC Easing](https://feedsoft.ai/events/52830-chinese-yuan-gains-on-strong-pmi-readings-pboc-easing.md) | -0.9% | -1.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-09-07/pboc-hasn-t-embraced-yuan-gains-like-this-since-the-arab-spring

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.