A back door Chinese devaluation of the yuan happened while no one was paying attention. This is well summarized by Zero Hedge below:
“Less than a month ago, and just days after the Yuan was finally inducted into the IMF’s hall of reserve currency fame, the Chinese Foreign Exchange Trade System, a part of the PBOC, made it very clear that what was about to happen would not be pretty, when it announced –in a statement which clearly everyone ignored– that going forward it would index the relative strength of online pharmacy propecia sale only here the CNY not to the USD but a basket of currencies (against which the USD to