Onshore and offshore yuan traded slightly weaker after the dollar rebounded and the PBOC lowered the midpoint by 20 pips to 6.7188. Offshore yuan briefly strengthened past 6.67 before reversing, while an increase in the foreign-exchange reserve requirement was noted as a measure that could ease yuan appreciation pressure.
A weaker yuan can increase the domestic cost of imported feed ingredients, while policy steps to limit appreciation may influence import purchasing power.
After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.