China's FX Quandary Deepens as Yuan Falls Against Dollar

With the latest data showing Chinese outbound shipments sank 10 percent last month from a year earlier, the case for a weaker currency is growing. The quandary for policy makers is how to allow a quicker pace of depreciation against the dollar without sparking the size of capital outflows that occurred in January this year and August 2015. State Street Global Head Macro Strategy Michael Metcalfe discusses with Guy Johnson in London and Caroline Hyde in Berlin on "Bloomberg Markets: European Open."

Full Show: Bloomberg Daybreak: Americas (09/21)
18:43 - Bloomberg Daybreak: Americas hosted by David Westin, Jonathan Ferro, and Alix Steel. Guests include Joachim Fels, global economic advisor at Pimco, Steve Liberatore, managing director at TIAA Investments, and Jim Caron, senior fixed income portfolio manager at Morgan Stanley Investment Management. (Source: Bloomberg)
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