Chinese yuan still being driven lower
- longest losing streak on record
- USDCNY closed at 6.4837, up 0.16% vs prev
Is it me or just coincidence that the yuan has been on the slide after some engineered support from the PBOC prior to inclusion in the IMF's SDR basket? Now it's an engineered devaluation, probably using the FOMC rate hike as cover
Funny ol' game and PBOC's Yi said at the time "Don't worry about yuan depreciation"