PBOC weakens Yuan beyond landmark 6.8 level

The People's Bank of China (PBOC) fixed the yuan at 6.8115 to the greenback, down 0.34% from Thursday's fixing, marking the lowest level since Sept 2010 on Friday.

Markets expect it could still fall further on the back US elections-driven ongoing rally in the US dollar.

Michael Every, head of Asia-Pacific financial markets research at Rabobank noted, "It has a lot further to go! If President Trump injects massive fiscal stimulus and protectionism then we will see a MUCH weaker CNY and CNH. Question is, how long until we break through 7, and where is the final stop? I think below 8 over the medium term, all things being equal."