Yuan's devaluation message

The unexpected fall of the yuan against the US dollar since mid February has gained far more attention than is justified by its size.

The Chinese currency slid for a seventh day on Wednesday to a six-month low against the greenback, sparking widespread speculation that its long-term strengthening has now reversed.

Given that many other emerging-market currencies are under great pressure from the reversal of capital flows triggered by the US withdrawal from its super loose monetary policy, it would be understandable if the Chinese currency follows suit as its economy slowed.