
China's central bank added a counter-cyclical adjustment factor to the USDCNY daily fixing calculation, with CFETS confirming the change. The yuan sold off to its lowest level since January 2017 after the move.
Commentators say the fix is becoming less transparent and more government-driven.
A stronger yuan trend can lift Chinese purchasing power for imports, but the effect on feed commodity prices is limited and indirect.
在过去 42 次中性的政策事件之后,人民币(每 USD 的 CNY) 在 5 个交易日内中位数变动 -0.0%(50% 上涨;中间一半区间为 -0.3% 至 +0.4%),20 个交易日内为 -0.2%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件;仅描述已发生的情况,不代表未来走势。不构成投资建议。
The counter-cyclical factor added to the fixing, and USDCNY's fall afterward, helped lower the pair, though the article's timing and 'sold off' wording are ambiguous.