
The onshore yuan rallied to a high of 7.1150 per US dollar, its strongest level since January, and closed at 7.1385 on Monday. The move followed expectations of US interest rate cuts in September and a sharp rise in the yen amid a regional stock sell-off.
Expectations of Fed easing weaken the dollar and tend to support commodity prices, including grains. A stronger yuan can also modestly support Chinese demand for imported feed ingredients.
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.
Setelah 1.637 peristiwa makro bearish sebelumnya, Dolar AS (Luas) bergerak median -0,2% selama 5 sesi (39% lebih tinggi; separuh tengah -0,6% sampai +0,3%), 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.
On Aug 5 the onshore yuan surged to its strongest since January (7.1150) on expected September US rate cuts and a yen spike amid the Asian sell-off, directly driving the CNY per USD decline.