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The USD/CNY pair rose to 6.6145, its highest level since December 19. The yuan has fallen since the PBOC refrained from raising rates after a Fed hike and cut the reserve requirement ratio for some banks.
Analysts see the central bank increasingly favoring a weaker currency to cushion the impact of Trump's trade measures.
A weaker yuan raises the cost of dollar-priced US farm imports for China, potentially reducing purchases of soybeans and feed ingredients. The currency move is a signal of trade-war pressure on Chinese import demand.
forexcrunch.comFX Street27 jun 2018Na 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.
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.
USD/CNY rose to its highest since December as the PBOC did not follow the Fed's hike and cut the reserve requirement ratio, a policy divergence that weakened the yuan.
