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Societe Generale analysts say the yuan is nearing its peak as the PBOC pushes back against one-way appreciation. They expect USD/CNY to bottom at 6.60 in the first quarter of 2027 and identify higher foreign-exchange reserve requirements and possible fixing adjustments as tools the central bank could use.
PBOC resistance could slow yuan appreciation, limiting further reductions in the local-currency cost of dollar-priced feed imports. The forecast implies limited additional yuan strengthening from current levels.
fxstreet.comFXStreet Insights TeamNov 5, 2026After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.
