The Chinese yuan, which had been in recent accelerated decline, hitting new year-to-date lows, has now crossed through a very key level into the 7-handle for onshore USDCNY. Furthermore, the currency's sharp move lower seems to confirm the weak macro data releases of late.
Weston Nakamura discusses the Chinese yuan's price action, and explains its correlation across asset classes and markets - including the S&P500, copper prices, the Hang Seng Property Index, and more. Weston also provides implications of what the falling currency could mean for markets going forward.
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