The yuan rose sharply against the dollar on Thursday, with the onshore currency gaining more than 500 pips, its biggest move in eight months. The official spot closing rate reached 7.2203, its strongest level in over two months.
The move followed expectations of Fed rate cuts and continued PBOC support for the exchange rate.
A firmer yuan and weaker dollar reduce the local-currency cost of dollar-priced imports, which can support Chinese buying of feed commodities. The dollar's softness is generally supportive for dollar-denominated grain prices.
在过去 362 次看跌的宏观事件之后,人民币(每 USD 的 CNY) 在 5 个交易日内中位数变动 -0.1%(42% 上涨;中间一半区间为 -0.4% 至 +0.1%),20 个交易日内为 -0.2%。
在过去 1,637 次看跌的宏观事件之后,美元(广义) 在 5 个交易日内中位数变动 -0.2%(39% 上涨;中间一半区间为 -0.6% 至 +0.3%),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 onshore yuan jumped over 500 pips on Thursday (its biggest move in eight months) as the dollar weakened on Fed cut expectations and PBOC support, which matches the large -0.43% USD/CNY move; the article is dated a day later but describes the same session.