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The yuan reached 6.5151 per dollar, recouping all of its 2016 losses and gaining more than 6% year to date. Analysts have raised forecasts after the currency beat many year-end targets.
The yuan has also been discussed as a possible safe-haven currency amid US-North Korea tensions.
Continued yuan appreciation, supported by capital controls and intervention, lowers the yuan cost of dollar-priced imports for China. The effect on feed commodity prices is modest.
cnbc.comSophia YanSep 6, 2017After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
