Chinese Currency Falls Again

This is definitely one of the hottest stories in financial markets right now.

The Chinese currency, the Renminbi used to be a one-way bet: it went up. There were little zigs and zags there, but basically it was uni-directional.

Not lately.

The Renminbi is on a real losing streak, and last night it fell again.

Here’s a one week chart, via XE.com, of USDCNY, showing the dollar’s steady march higher.

Meanwhile last night, the Shanghai Composite fell another 2%.

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