Ninth day of weakening for the Chinese yuan. And the fall is very large today.
Reference rate was set today at 6.1214
We are getting close to levels that will trigger bigger selling in ‘risk’ as losses are taken in USD/CNY and attempted to be covered elsewhere. I don’t know how much further the PBOC wants to push the yuan lower on this round. The USD/JPY is back to the day’s lows
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Added: hitting 6.164 now – biggest fall since 2008.
USD/JPY sitting on session lows.
AUD/USD also, after stops triggered above overnight highs then an abrupt halt ahead of sellers at 90/00
