# Why we’re revising our yuan forecast down again | articles | ING THINK

> ING revised its USD/CNY forecast to 7.0 by the end of 2018, citing new policies that open Chinese markets to foreign investment in sectors including agriculture and those hit by tariffs. ING also reported that China plans to restrict offshore dollar bond issuance to tenors of at least 365 days. ING sees these steps as signals that authorities are increasingly prepared for a weaker yuan.

- Date: 2018-06-29 · published 2018-06-29T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/8537-why-we-re-revising-our-yuan-forecast-down-again-articles-ing-think
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan forecast raises the dollar cost of US farm imports for China, which can reduce purchasing of soybeans and feed ingredients. Opening agriculture to foreign investment could over time affect China's domestic feed supply and import needs.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-05-30 | [Why we’re forecasting the yuan to depreciate \| articles \| ING THINK](https://feedsoft.ai/events/65232-why-we-re-forecasting-the-yuan-to-depreciate-articles-ing-think.md) | -0.2% | +2.5% |
| USDCNY | 2019-06-03 | [China: Revising yuan lower but 7.0 should hold \| articles \| ING THINK](https://feedsoft.ai/events/58821-china-revising-yuan-lower-but-7-0-should-hold-articles-ing-think.md) | +0.0% | -0.5% |
| USDCNY | 2019-05-08 | [EM FX: Floating in a sea of red \| articles \| ING THINK](https://feedsoft.ai/events/10432-em-fx-floating-in-a-sea-of-red-articles-ing-think.md) | +1.4% | +2.0% |
| USDCNY | 2025-04-16 | [Asia FX Talking: Pressure builds on the renminbi \| articles \| ING THINK](https://feedsoft.ai/events/25366-asia-fx-talking-pressure-builds-on-the-renminbi-articles-ing-think.md) | -0.0% | -1.5% |
| USDCNY | 2024-01-19 | [China’s yuan set to weaken for a third week against rebounding dollar - Markets - Business Recorder](https://feedsoft.ai/events/32358-china-s-yuan-set-to-weaken-for-a-third-week-against-rebounding-dollar-markets.md) | -0.4% | -0.0% |

## Sources

- think.ing.com: https://think.ing.com/articles/revising-yuan-weaker-but-this-time-is-different/

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