***Declined sharply against the US dollar in favor of fertilizer exports

According to the latest data from the China**** Center, on September 1st, the *** exchange rate against the US dollar was reported at 6.8105, a sharp drop of 80 basis points from the previous trading day. At this point, almost all the gains that have occurred since the Chinese government promised to increase the elasticity of the exchange rate on June 19 have been retracted. In the previous trading day, the exchange rate of *** against the US dollar was reported at 6.80025. On June 21st, the exchange rate of *** against the US dollar was reported at 6.8275 yuan.

According to reports, personal income growth in the United States in July was slightly lower than expected, but personal spending was slightly higher, which was mixed. At the same time, the performance of the Canadian producer price index in July was poor, resulting in high-yield currencies falling, and dollar-denominated safe-haven currencies generally rose.

On Tuesday in Asia, the yen hit a 15-year high against the US dollar following Wednesday's session. Prior to the Bank of Japan's easing measures did not prevent investors from following the appreciation of the yen, investors are ready to test the Japanese authorities' determination to intervene. The growing market doubts about the US economy will continue to shield investors from risky assets such as high-yield currencies and may further push up the yen. Judging from the current situation, the U.S. dollar and the Japanese yen clearly have an advantage and other currencies are generally under pressure.

According to industry analysts, the euro fell slightly to midday Tuesday at 1.2630 in Tokyo, this week the euro is heavy, after the 1.2790 blocked the euro will continue to decline, below strong support at 1.2490. US dollar against the yen fell sharply to around 84.10 on Tuesday, It's only a step away from a 15-year low. Yen after the market is clearly in a strong position, the target price at 83.50.

According to the analysis of relevant experts of the China Fertilizer Information Center, the two-way fluctuation of the exchange rate basically eliminated concerns about the substantial increase in the value of the people concerned. The impact on the fertilizer industry is mainly reflected in two aspects: First, it is beneficial to the export of fertilizers in the window period. The second is to increase the import cost of ** and potash.