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The PBoC raised the foreign-currency deposit reserve requirement ratio by 2 percentage points to 6% from 4%, effective 15 November, to slow yuan appreciation. UOB analysts said they hold a cautious medium-term view on the yuan because of widening interest rate differentials and expect a modest recovery in USD/CNY.
They will update their forecasts on 6 November.
A forecast of a weaker yuan implies a firmer dollar against the yuan, which can raise the cost of US-origin feed commodities and ingredients for Chinese buyers over the coming weeks.
en.octabroker.comNov 4, 2026
fxstreet.comFXStreet Insights TeamNov 3, 2026After 398 past bullish macro events, USDCNY moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
