
The offshore yuan rose from 6.87 per dollar on May 23 to a low of 6.72 on June 1 after the central bank stepped in to strengthen the currency. The move forced speculators to unwind long dollar positions and prompted onshore exporters to resume hedging.
The yuan rally followed Moody's credit rating cut.
A sudden yuan rally raises Chinese import purchasing power and shifts currency hedging, a modest indirect influence on feed commodity prices.
過去の弱気なマクロイベント362件の後、中国人民元(1 USDあたりCNY) は5営業日で中央値 -0.1% 動き(42% が上昇。中央50%は -0.4% から +0.1%)、20営業日では -0.2% 動きました。
イベント直前の終値からの各商品ベンチマークの動き。過去の傾向は同種の過去イベントをまとめたものであり、起きたことを示すもので、今後を示すものではありません。投資助言ではありません。
Central bank support forced speculators to unwind long-dollar positions and exporters to resume hedging, pushing the yuan stronger over the window.
It describes central bank-driven yuan strengthening that forced speculators to unwind long-dollar positions around the move date, though it was published afterward.