The Chinese yuan extends losses against the dollar, down by 3% since mid-June
The dollar is seeing further gains on the day, trading at the highs now with the dollar index up by 0.2%. Gold is falling and the euro as well as sterling is also weaker against the greenback in the past hour, but among all I think this will continue to be something to watch out for in the near future.
With the onshore yuan itself falling by more than 5% already since the lows this year, the devaluation question will be on the lips of market participants if the trend is to persist in the coming days/weeks.
