The US dollar is getting crushed in Asia

Phil Cole/Getty Images The US dollar can’t take a trick at present. Courtesy of a sharply stronger Chinese yuan, the greenback is yet again on the ropes in Asia. The People’s Bank of China “fixed” Friday’s USD/CNY rate at 6.4628, well below Thursday’s fixing level of 6.4961. The 333 pip decline was the strongest one-day strengthening in yuan’s starting level since November 2015. Not only that, as this tweet from IG Markets chief market strategist Chris Weston notes, the 0.5% streng...