
The yuan surged to a near seven-month high against the dollar, strengthening through 6.8 per dollar for the first time since November. The People's Bank of China pushed the reference rate up 0.8%, its second largest one-day appreciation since 2005.
Traders attributed the move to a show of strength after the Moody's downgrade or a planned fixing mechanism change.
A firmer yuan signals that Beijing will resist depreciation, which supports Chinese import purchasing power for feed commodities. The central bank's intervention also reduces near-term currency risk for dollar-denominated feed trade.
Setelah 50 peristiwa kebijakan bearish sebelumnya, Yuan Tiongkok (CNY per USD) bergerak median -0,1% selama 5 sesi (46% lebih tinggi; separuh tengah -0,4% sampai +0,4%), 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.
The PBOC set a reference rate 0.8% stronger, its second largest one-day appreciation since 2005, directly moving the yuan through 6.8 per dollar.