| Commodity currencies such as the Australian, the New Zealand and the Canadian dollars continued to be weak against their major currencies in the Asian session on Wednesday, as the yuan slumped for the second straight day following Tuesday's devaluation by the Chinese central bank.
The People's Bank of China on Wednesday set its reference rate at 6.3306 per dollar, up slightly from Tuesday's close but 1.6% lower than the previous day's fixing rate. The central bank devalued the yuan by 1.9% on Tuesday. The devaluation of the yuan has fueled worries about slowing growth in the world's second-largest economy...............................................Full Article: Source
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