FXStreet (Guatemala) - Analysts at Rabobank explained that over the past 5 days AUD/USD has tumbled around 3.6%. Key Quotes: "The NZD is the second worst performer of the G10 currencies dropping 2.9% in the same time frame. It is not just the currencies that are falling in this part of the world. This morning the ASX 200 closed over 2% lower, driven down by mining and energy stocks. " "This was the fifth day of losses for the index. " "The weakness of both the AUD and the ASX has been a direct response to concerns that the Chinese authorities could be prepared to allow the CNY to weaken, which could involve a heavy cost to Australia’s external sector. The reference rate for the CNY vs. the USD set by the PBoC today was the weakest for the CNY since March 2011 and at 0.5% below the previous day’s level representing the largest drop since the devaluation in August." "In all USD/CNY is trading around 6.3% higher than its early August levels. That said, measured on a 12 mth view the near 6% fall in the value of the CNY vs the USD is far more modest vs the 11% drop in the IDR or the 20% plunge in the MYR. The CNY has not just been losing ground vs. several Asian currencies but since the start of last year it has lost 4.76% vs the EUR and 8.75% vs the AUD. Last month the PBoC pointed out in a publication that the market should be less focussed on the value of USD/CNY and should be paying more heed to the value of China’s effective exchange rate." For more information, read our latest forex news.