China's Yuan fell to its four and half year low on account of weak Chinese economy and expectations of a U.S interest rate hike.
- USD/CNY has climbed up to 6.4583 this week from 6.400 which would be highest weekly depreciation since the week of surprise devaluation on Aug 11.
- The PBOC set its daily guidance rate at its weakest level since August 2011.
- "A U.S. rate hike would have a major impact on money flows out of emerging markets including Hong Kong and China," said Linus Yip, chief strategist at First Shanghai Securities.
- Technically the pair has broken 6.4485 (Oct 10th high) and is expected to reach till 6.527/6.60 level.
- The weakness can be seen only below 6.318 level.


FxWirePro- Major Crypto levels and bias summary
FxWirePro: AUD/USD firms as Australian household spending records sharp jump
FxWirePro: NZD/USD sustains gains as uptrend remains strong
FxWirePro: AUD/USD consolidates gains ,remains on positive footing
FxWirePro: GBP/AUD gains some upside momentum, but bearish outlook remains
FxWirePro- Major European Indices
FxWirePro: USD/ZAR outlook weaker on renewed downside pressure
FxWirePro- Major US Indices
Dollar Crumbles on Dovish Fed Bets – USD/CHF Eyes 0.7865 Next
FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption
FxWirePro: EUR/AUD set To for bigger drop, but close below key fibo needed
NZDJPY Eyes Higher Ground: Buy the Dips as Bulls Defend 88.70 Support
AUDJPY Eyes New Highs: Bulls Hold 102 Support, Target 104
FxWirePro: GBP/USD hits 5-week,scope for further upside
FxWirePro: USD/ CNY gains some upside momentum but still bearish
FxWirePro: GBP/AUD positions for another drop, eyes 2.0100 level 



