
The yuan started 2017 stronger than forecasters expected, as a liquidity squeeze hurt investors betting on a falling currency. Forecasts for further depreciation were upset by the early-year rally.
The squeeze was tied to tight funding conditions around the holiday.
A stronger yuan lowers the local cost of dollar-priced feed imports, but the rally rests on temporary liquidity conditions that could reverse.
Setelah 362 peristiwa makro bearish sebelumnya, Yuan Tiongkok (CNY per USD) bergerak median -0,1% selama 5 sesi (42% lebih tinggi; separuh tengah -0,4% sampai +0,1%), dan -0,2% 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.