# Yuan hits 7-week high after China eases some stringent COVID curbs - Markets - Business Recorder

> China's yuan rose to a seven-week high against the dollar after the government eased some COVID-19 controls, including shorter quarantines for close contacts and removal of airline penalties for infected arrivals. The move was reinforced by a softer-than-expected US inflation reading that weakened the dollar.

- Date: 2022-11-11 · published 2022-11-11T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/8205-yuan-hits-7-week-high-after-china-eases-some-stringent-covid-curbs-markets
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan and easing COVID restrictions improve Chinese import purchasing power and economic outlook, which modestly supports demand for grains and meals.

## Read by commodity

- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2022-11-14 | 5 | -3.1% | -5.3 | Easing of COVID curbs plus softer US CPI weakened the dollar and sent the yuan to a 7-week high, directly driving the CNY per USD drop. |
| USDCNY | 2022-11-14 | 1 | -1.6% | -3.9 | China's easing of some COVID curbs and a softer US CPI weakened the dollar and sent the yuan to a seven-week high, driving the sharp CNY per USD decline into Nov 14. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-06-16 | [China’s yuan climbs to week high after expected Fed move - Markets - Business Recorder](https://feedsoft.ai/events/41169-china-s-yuan-climbs-to-week-high-after-expected-fed-move-markets-business.md) | -0.2% | +0.7% |
| USDCNY | 2022-07-28 | [China’s yuan touches two-week high after Fed appears less hawkish than expected - Markets - Business Recorder](https://feedsoft.ai/events/40701-china-s-yuan-touches-two-week-high-after-fed-appears-less-hawkish-than-expected.md) | -0.0% | +1.5% |
| USDCNY | 2023-02-02 | [China’s yuan jumps to over 2-week high on Fed’s dovish tilt - Markets - Business Recorder](https://feedsoft.ai/events/37551-china-s-yuan-jumps-to-over-2-week-high-on-fed-s-dovish-tilt-markets-business.md) | +0.7% | +2.5% |
| USDCNY | 2023-07-31 | [China’s yuan inches higher after better-than-expected PMI data - Markets - Business Recorder](https://feedsoft.ai/events/35259-china-s-yuan-inches-higher-after-better-than-expected-pmi-data-markets-business.md) | +0.3% | +2.0% |
| USDCNY | 2026-08-20 | [China's yuan gets stronger after dollar slumps overnight - Markets - Business Recorder](https://feedsoft.ai/events/18097-china-s-yuan-gets-stronger-after-dollar-slumps-overnight-markets-business.md) | -0.1% | -0.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40208287

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