
China's central bank scrapped the 20% reserve requirement on forex forward contracts from March 2 to encourage dollar buying and slow the yuan's rapid rise. The move came after the yuan hit a near three-year high, and the PBOC also set a weaker-than-expected trading band midpoint.
The measure is a direct policy effort to slow yuan appreciation, which pressures exporters and could support USD demand in China. A slower yuan rise keeps the dollar cost of Chinese imports, including feed ingredients, from falling as quickly.
Setelah 31 peristiwa kebijakan bullish sebelumnya, Yuan Tiongkok (CNY per USD) bergerak median -0,2% selama 5 sesi (42% lebih tinggi; separuh tengah -0,4% sampai +0,3%), dan -0,1% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.