Tumbling Chinese yuan sets off 'carry trade' rout, triggers derivatives contracts

``... suspicions are also are growing that China's authorities have quietly switched to a devaluation policy to buffer the shock to the economy as they attempt to curb excess credit, even though this would risk a clash with Washington. "The more they undershoot their growth target, the more tempting it may look to have a weaker currency to help out," said Kit Juckes, from Societe Generale.''