# The Chinese Yuan Jumps to a 2-Month High - Business Insider

> The yuan jumped to a two-month high after state-owned banks reportedly sold US dollars in the onshore market. The move followed Moody's decision to downgrade China's sovereign credit rating one notch to A1. Traders described the selling as support for the currency.

- Date: 2017-05-24 · published 2017-05-24T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/8838-the-chinese-yuan-jumps-to-a-2-month-high-business-insider
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

State dollar selling to prop up the yuan reduces depreciation pressure on Chinese importers of feed commodities, supporting import demand. The intervention signals policy support that limits near-term currency swings.

## Read by commodity

- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2017-05-25 | 1 | -0.3% | -3.4 | State banks' reported dollar sales lifted the yuan to a two-month high on 2017-05-24, and that momentum carried into the 2017-05-25 move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-07-31 | [Yuan rises to 1-1/2-month high - Markets - Business Recorder](https://feedsoft.ai/events/18572-yuan-rises-to-1-1-2-month-high-markets-business-recorder.md) | -0.1% | -0.5% |
| USDCNY | 2018-12-04 | [Chinese Yuan Spikes to 3-Month High As Trade Tensions Ease - Markets Insider](https://feedsoft.ai/events/6923-chinese-yuan-spikes-to-3-month-high-as-trade-tensions-ease-markets-insider.md) | +0.2% | -0.2% |
| USDCNY | 2018-01-25 | [Chinese yuan strengthens to 27-month high against USD Thursday](https://feedsoft.ai/events/11866-chinese-yuan-strengthens-to-27-month-high-against-usd-thursday.md) | -1.3% | -0.3% |
| USDCNY | 2023-02-02 | [China’s yuan jumps to over 2-week high on Fed’s dovish tilt - Markets - Business Recorder](https://feedsoft.ai/events/37551-china-s-yuan-jumps-to-over-2-week-high-on-fed-s-dovish-tilt-markets-business.md) | +0.7% | +2.5% |
| USDCNY | 2020-07-31 | [Yuan closes trade at 4-1/2-month high - Markets - Business Recorder](https://feedsoft.ai/events/52323-yuan-closes-trade-at-4-1-2-month-high-markets-business-recorder.md) | -0.8% | -1.6% |

## Sources

- businessinsider.com: https://www.businessinsider.com/the-chinese-yuan-jumps-to-a-2-month-high-2017-5

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