“China Is Fixed” Narrative Breaks: Yuan Tumbles To 4-Month Lows, European Stocks Plunge Most Since Feb

Friday, June 10, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
Jun 10, 2016

For the first time since February 3rd, USDCNH traded over 6.60 as trade data suggests both capital outflows are building (see Hong Kong) and the “China is fixed” narrative is breaking. Whether the Yuan turmoil is responsible – as it has been in the past – for Europe’s weakness (and US) is unclear but the last two times the Chinese currency markets started to shudder, the ripples didn’t stop until The Fed backed right off…

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