Japan Industrial Production (YoY): 2.3% (June) vs 2%

PBOC did it again – further yuan devaluation. The People's Bank of China (PBoC) continued to devalue its currency on Wednesday – second day in a row, waging a currency war as the world's second-biggest economy tries to shore up growth by boosting exports. Antipodeans suffered the most from the lower Yuan reference rate while the USD/JPY rose to fresh 2-month highs beyond 125 handle amid risk-off moods.