
The People's Bank of China is working to contain a weakening yuan after the currency fell by the most since March. The slide follows Fed forecasts pointing to earlier U.S. interest rate increases, which strengthened the dollar.
A weaker yuan lowers the dollar cost of Chinese purchases of feed grains and meal, which can slow import demand and soften U.S. feed commodity prices at the margin.
Setelah 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.
Setelah 2.356 peristiwa makro bullish sebelumnya, Dolar AS (Luas) bergerak median +0,2% selama 5 sesi (60% lebih tinggi; separuh tengah -0,3% sampai +0,7%), dan +0,4% 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.
Reports of the yuan's biggest fall since March after the Fed's earlier-hike signals confirm a dollar-strength driver and PBOC efforts to contain the depreciation.
The yuan fell the most since March on Fed tightening expectations, and PBOC efforts to contain the slide confirm the dollar-driven depreciation pressure.