Chinese yuan fix weakens, stocks slump again

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The fix is in for the yuan, with the lowest level since April 2011 at 6.5169 against the USD, now 0.21% weaker, with news just in the PBOC is also going to inject 170 billion Yuan:

usdcny_fx_price_monthly.26feb09_to_11jul16

Chinese equity markets have opened, with the Shanghai Composite down 3% at the open.

Australian stocks have fallen already this morning, down over 1% with banks taking the brunt like I thought on the DAX slide overnight.

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This could get nasty!