"Dear Janet"? - China Devalues Most Since August, Yuan Tumbles To Lowest Since Sept 2010

For the 10th day of the last 11, onshore yuan has weakened against the dollar. A 0.35% devaluation of the Yuan fix - the most since August - catching down to offshore Yuan's weakness, suggests (for now) PBOC policy is 'allowing' the drop and perhaps sending yet another 'turmoil-induing' message to The Fed as their hawkishness grows.

Since the start of Golden Week, yuan has plunged...

 

Plunging Yuan back near pre-peg-break levels from Sept 2010...

 

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