China's Yuan Has Fallen To A Level That Means 'Real Pain'

China's yuan has weakened to a level that has some folks sweating. The offshore yuan (CNH) exchange rate has fallen to 6.20 per dollar. This comes days after policymakers announced that it would allow the yuan to swing more freely each day. The yuan has only weakened since the announcement. As you can see in the chart to the right, it take increasing amounts of yuan to get a dollar. 6.20 is a particularly worrisome level for the $300 billion structured financial products market. "For CNH, the 6....