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The yuan weakened to a three-week low against the dollar after the Federal Reserve brought forward its projection for interest rate hikes into 2023. The PBOC set its midpoint fix weaker than expected, and the dollar index rose.
A firmer dollar and the Fed's hawkish shift tend to pressure dollar-priced commodities, and a weaker yuan makes Chinese buyers less willing to pay up for U.S. feed grains and meal.
brecorder.comReuters17 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.
The hawkish Fed projection of rate hikes in 2023 lifted the dollar and pushed the yuan to a three-week low on the day of the move, directly explaining the CNY/USD jump.
The Fed's hawkish projection of rate hikes in 2023 lifted the dollar and pushed the yuan to a three-week low, which is the main driver of the CNY per USD rise.
