BofA: Dusting off the CNY playbook; Analyzing currency reactions to Chinese yuan movements ...Middle East

Bank of America delves into the sensitivity of different currencies to fluctuations in the Chinese Yuan (CNY), spotlighting three key periods of CNY depreciation in the last decade: the 2015-16 mini-devaluation, the 2018-19 US-China trade tensions, and the 2022-23 policy divergence. By controlling for changes in the dollar index (DXY) and volatility index (VIX), BofA aims to precisely gauge the impact of CNY movements on G10 currencies.Key Points:Sensitive Currencies: The Australian Dollar (AUD) and New Zealand Dollar (NZD) consistently display the highest sensitivity to CNY depreciation across all examined periods, highlighting their vulnerability to shifts in CNY's value.JPY's Recent Sensi

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