USD/CNY sinks to below 6.3000 as the dollar continues to weaken on the day
At this point, you have to wonder if Chinese officials will start to be a little bit concerned. They have removed the counter-cyclical measure in the yuan fixing, but allowed the USD/CNY to fall further - however, the pace of the fall surely must raise some nervous looks.
The dollar weakness is spreading across Asia as well, and surely isn't a welcome sign for the Bank of Korea or Bank of Thailand who both have tried to verbally intervene to prevent their currencies from rising too fast.
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