July 28,2108-
Value of US Dollar vs Chinese Yuan
Up 9 percent since April
The appreciation of the dollar means that U.S. goods become more expensive abroad, reducing U.S. exports. Meanwhile, a strong dollar makes foreign goods cheaper to U.S. consumers, which tends to increase imports
The US dollar has strengthened this year vs a basket of world currencies and even more so more so vs the Chinese yuan. The strong dollar is due part for our rising interest rates here that has the negative effect on US farmers trying to sell their goods around the world including to China. The double whammy effect makes stuff we are trying to sell over there more expensive because there is a new a 50% tariff China put on as well as currency losses of around 9 percent in recent months – compounding the pain down on the farm.