# China’s yuan ends near 28-month low, set for worst week since April - Markets - Business Recorder

> The onshore yuan finished near a 28-month low against the dollar and was on track for its biggest weekly loss since April. The yuan weakened past 7.1 per dollar as the US-China yield differential widened to its largest since 2007. Traders were positioning for further Federal Reserve hikes to fight inflation.

- Date: 2022-09-23 · published 2022-09-23T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/8606-china-s-yuan-ends-near-28-month-low-set-for-worst-week-since-april-markets
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Continued yuan weakness reflects tighter US monetary policy and a widening rate gap that pressures Chinese currency and capital flows. A weaker yuan can reduce Chinese import buying power for feed ingredients over time.

## Read by commodity

- USDCNY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2022-09-27 | 5 | +2.3% | 3.8 | Yuan slid past 7.1 on 9/23 as the US-China yield differential widened to its largest since 2007 amid expected Fed hikes, a direct driver of the early-window CNY weakening. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-04-28 | [China’s yuan rebounds, but looks set for a losing month - Markets - Business Recorder](https://feedsoft.ai/events/36604-china-s-yuan-rebounds-but-looks-set-for-a-losing-month-markets-business-recorder.md) | -0.2% | +2.2% |
| USDCNY | 2025-09-26 | [China’s yuan touches 3-week low, looks set for biggest weekly drop since July - Markets - Business Recorder](https://feedsoft.ai/events/23111-china-s-yuan-touches-3-week-low-looks-set-for-biggest-weekly-drop-since-july.md) | -0.2% | -0.2% |
| USDCNY | 2026-03-31 | [Chinese yuan heads for first monthly loss since July - Markets - Business Recorder](https://feedsoft.ai/events/20385-chinese-yuan-heads-for-first-monthly-loss-since-july-markets-business-recorder.md) | -0.5% | -1.3% |
| USDCNY | 2021-03-31 | [Yuan off lows on upbeat PMI data, but set for worst month since Aug 2019 - Markets - Business Recorder](https://feedsoft.ai/events/48331-yuan-off-lows-on-upbeat-pmi-data-but-set-for-worst-month-since-aug-2019-markets.md) | -0.5% | -1.3% |
| USDCNY | 2022-11-10 | [China’s yuan touches near one-week low on worsening COVID outbreaks - Markets - Business Recorder](https://feedsoft.ai/events/8203-china-s-yuan-touches-near-one-week-low-on-worsening-covid-outbreaks-markets.md) | -1.2% | -3.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40199231

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