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A Bloomberg analysis says the yuan has made little progress in challenging the dollar after a decade of efforts to internationalize it. The article notes the currency is still far from freely convertible and that investors remain concerned about sudden yuan depreciation.
Limited yuan internationalization keeps China's currency policy and capital controls central to dollar-denominated trade flows. This is structural background with no immediate price impact on feed markets.
bloomberg.comTian Chen, Livia YapDec 12, 2019After 991 past macro events, USDCNY 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.
