The Chinese yuan edged up against the dollar on Thursday after the PBoC set a firmer midpoint of 6.7174, though that fixing was 377 pips weaker than the Reuters analyst forecast. Onshore spot traded around 6.6691 and offshore around 6.6692.
The dollar's rise to a 19-month high on expectations of further Fed tightening limits yuan gains. A firmer dollar keeps dollar-denominated Chinese import costs for grains and feed ingredients elevated.
After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), 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.