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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.
bloomberg.comTian Chen17 jun 2021Na 398 eerdere opwaarts macro-gebeurtenissen bewoog Chinese yuan (CNY per USD) zich mediaan +0,0% over 5 sessies (56% hoger; middelste helft -0,3% tot +0,5%), en +0,0% over 20.
Na 2.356 eerdere opwaarts macro-gebeurtenissen bewoog Amerikaanse dollar (breed) zich mediaan +0,2% over 5 sessies (60% hoger; middelste helft -0,3% tot +0,7%), en +0,4% 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.
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.
