China's Yuan Is Now Plunging Faster Than During 2015's Devaluation

Another China open, another lower renminbi fix, and another 2 handle plunge in offshore Yuan…


Offshore yuan is now at 12-month lows, down almost 9% from the March highs and collapsing at an annualized pace of around 30%!! That is a faster plunge than the 2015 post-devaluation slide (which was around a 23% annualized slide)…


It does make one wonder how long this will last before it starts to ripple across the Pacific?

Or are Chinese Yuan sellers using their newly acquired dollars to buy S&P calls?


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