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The People's Bank of China set the yuan central parity rate at 7.0638 per dollar, a weakening of 72 basis points from the prior day. The onshore yuan had closed at 7.0663 the previous day.
A weaker yuan fixing makes dollar-priced imports such as feed grains more expensive for Chinese buyers, a mildly bullish factor for US feed commodity prices in dollar terms.
yicaiglobal.comDou ShicongJul 3, 2020After 31 past bullish policy events, Chinese Yuan (CNY per USD) moved a median -0.2% over 5 sessions (42% higher; middle half -0.4% to +0.3%), and -0.1% 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.
