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The yuan rallied to a seven-month high against the dollar on the last trading day of 2023, after expectations of Federal Reserve easing. The currency still posted a 6.14% annual loss, its second consecutive yearly decline.
The PBOC set its midpoint at a seven-month high.
A stronger yuan lowers the cost of dollar-priced imports for China, modestly supporting its feed purchasing power. The move is a currency story with limited direct effect on feed prices.
financebrokerage.comEmma Bonnet29 dec 2023Na 362 eerdere neerwaarts macro-gebeurtenissen bewoog Chinese yuan (CNY per USD) zich mediaan -0,1% over 5 sessies (42% hoger; middelste helft -0,4% tot +0,1%), en -0,2% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
The yuan's rally to a seven-month high on Dec 29 on Fed easing expectations and a stronger PBOC fixing set the immediate currency momentum leading into the Jan 2 move, though the timing of this 0.60% move differs slightly.
