# USD/CNY rises to highest since December 19 - Forex Crunch

> The USD/CNY pair rose to 6.6145, its highest level since December 19. The yuan has fallen since the PBOC refrained from raising rates after a Fed hike and cut the reserve requirement ratio for some banks. Analysts see the central bank increasingly favoring a weaker currency to cushion the impact of Trump's trade measures.

- Date: 2018-06-27 · published 2018-06-27T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/8532-usd-cny-rises-to-highest-since-december-19-forex-crunch
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan raises the cost of dollar-priced US farm imports for China, potentially reducing purchases of soybeans and feed ingredients. The currency move is a signal of trade-war pressure on Chinese import demand.

## Read by commodity

- USDCNY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2018-06-28 | 5 | +2.1% | 3.8 | USD/CNY rose to its highest since December as the PBOC did not follow the Fed's hike and cut the reserve requirement ratio, a policy divergence that weakened the yuan. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-01-29 | [USD/CNY: Yuan drops despite surging Chinese overnight repo rate - Forex Crunch](https://feedsoft.ai/events/49364-usd-cny-yuan-drops-despite-surging-chinese-overnight-repo-rate-forex-crunch.md) | +0.3% | +0.4% |
| USDCNY | 2020-02-03 | [USD/CNY remains in 2-month tops near 7.02 ahead of ISM - Forex Crunch](https://feedsoft.ai/events/5137-usd-cny-remains-in-2-month-tops-near-7-02-ahead-of-ism-forex-crunch.md) | +1.2% | +0.6% |
| USDCNY | 2020-02-03 | [USD/CNH at 2020 high as China re-opens with weak data, rate cuts amid coronavirus - Forex Crunch](https://feedsoft.ai/events/5139-usd-cnh-at-2020-high-as-china-re-opens-with-weak-data-rate-cuts-amid.md) | +1.2% | +0.6% |
| USDCNY | 2024-11-07 | [CNY/USD: China Sets Yuan Fix at Weakest Since 2023 - Bloomberg](https://feedsoft.ai/events/6857-cny-usd-china-sets-yuan-fix-at-weakest-since-2023-bloomberg.md) | +0.7% | +1.3% |
| USDCNY | 2022-04-25 | [U.S. dollar rises to two-year high; yuan tumbles \| Reuters](https://feedsoft.ai/events/4945-u-s-dollar-rises-to-two-year-high-yuan-tumbles-reuters.md) | +1.6% | +2.9% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2018/06/27/usd-cny-rises-to-highest-since-december-19/

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