# JPMorgan takes profit on Chinese yuan rally | Reuters

> JPMorgan closed its long offshore yuan position after the People's Bank of China cut the cost of buying dollar forwards to tame the yuan's rally. The PBOC said it would cut risk reserves from 20% to zero.

- Date: 2026-02-27 · published 2026-02-27T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/7896-jpmorgan-takes-profit-on-chinese-yuan-rally-reuters
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A PBOC move to weaken the yuan can dampen Chinese import purchasing power for farm goods, a mildly bearish factor for soybean and meal prices.

## Read by commodity

- SOY: bearish ▼
- USDCNY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2026-03-02 | 1 | +0.4% | 3.7 | The PBOC's cut to the cost of buying dollar forwards led JPMorgan to take profit on its long yuan position, which reduced yuan demand and reversed the rally. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-11-26 | [China's yuan slides to four-month low on Trump's tariff promise \| Reuters](https://feedsoft.ai/events/27628-china-s-yuan-slides-to-four-month-low-on-trump-s-tariff-promise-reuters.md) | +0.6% | +0.8% |
| USDCNY | 2022-01-17 | [Chinese yuan under pressure from medium-term loans cut: Strategist](https://feedsoft.ai/events/43361-chinese-yuan-under-pressure-from-medium-term-loans-cut-strategist.md) | -0.3% | +0.1% |
| USDCNY | 2021-01-06 | [China moves to curb yuan rally pressure due to hot money and export concerns \| South China Morning Post](https://feedsoft.ai/events/49366-china-moves-to-curb-yuan-rally-pressure-due-to-hot-money-and-export-concerns.md) | +0.1% | +0.3% |
| USDCNY | 2025-01-23 | [China’s yuan slips on worries over Trump tariff plans, pre-holiday dollar demand - Markets - Business Recorder](https://feedsoft.ai/events/9598-china-s-yuan-slips-on-worries-over-trump-tariff-plans-pre-holiday-dollar-demand.md) | -0.4% | -0.2% |
| USDCNY | 2020-10-28 | [Yuan’s Rally Faces Test After Banks Tweak Daily Reference Rate - Caixin Global](https://feedsoft.ai/events/50849-yuan-s-rally-faces-test-after-banks-tweak-daily-reference-rate-caixin-global.md) | -0.4% | -1.9% |
| SOY | 2024-11-26 | [China's yuan slides to four-month low on Trump's tariff promise \| Reuters](https://feedsoft.ai/events/27628-china-s-yuan-slides-to-four-month-low-on-trump-s-tariff-promise-reuters.md) | +0.6% | -1.1% |
| SOY | 2025-01-23 | [China’s yuan slips on worries over Trump tariff plans, pre-holiday dollar demand - Markets - Business Recorder](https://feedsoft.ai/events/9598-china-s-yuan-slips-on-worries-over-trump-tariff-plans-pre-holiday-dollar-demand.md) | +0.4% | -1.0% |
| SOY | 2025-08-27 | [Soybean Oil Rallies Yet Exporters Struggle Without China Deals](https://feedsoft.ai/events/23408-soybean-oil-rallies-yet-exporters-struggle-without-china-deals.md) | -1.2% | -1.9% |

## Sources

- reuters.com: https://www.reuters.com/business/finance/jpmorgan-takes-profit-chinese-yuan-rally-2026-02-27/

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