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The onshore yuan rose 0.82 percent to break 6.45 per dollar, its strongest level since December 2015, and was set for its biggest weekly gain since 2005. The Hong Kong dollar climbed alongside it as the dollar slid and real-money investors repatriated funds to the mainland.
A sharp yuan rally lowers the cost of dollar-priced imports for Chinese buyers, which can support import demand for feed ingredients. The move reflects currency flows rather than a change in agricultural supply or demand.
scmp.comKaren YeungSep 8, 2017Not enough comparable past events yet for a historical read.
Not 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.
Reports the onshore yuan breaking 6.45 and posting its largest weekly gain since 2005, which describes the move itself and shows the repatriation inflows behind it.
