China’s sliding yuan could be next ‘black swan event’ for markets, hedge fund EDL says

via Reuters 

LONDON, Aug 17 (Reuters – Hedge fund EDL Capital is betting on further falls for China’s offshore currency and says the yuan’s slide could be the next “black swan event” to rattle world markets, according to an investor presentation this month seen by Reuters.

The U.S. dollar has strengthened roughly 6% against the offshore yuan so far this year and Chinese state banks have been seen selling dollars this week to stem the yuan fall.

China: There is growing unease over why its leaders are not rushing to revive the world’s second-largest economy.