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The onshore yuan fell to its weakest level against the dollar since November 20, 2023, after the PBOC cut the five-year loan prime rate from 4.20% to 3.95%. The article says the central bank is worried about capital outflows and a run on the currency.
A weaker yuan raises the cost of dollar-priced imports for China and can reduce its appetite for US feed grains and meal. Concern about capital flight suggests continued pressure on the currency.
investinglive.comEamonn Sheridan20 Feb 2024Setelah 398 peristiwa makro bullish sebelumnya, Yuan Tiongkok (CNY per USD) bergerak median +0,0% selama 5 sesi (56% lebih tinggi; separuh tengah -0,3% sampai +0,5%), dan +0,0% 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.
