This week, the Chinese yuan declined to its lowest level in 9 months following the release of grim economic data that added to concerns about weakening growth. 

China's major state-owned banks were reportedly seen selling US dollars to snap up yuan in both onshore and offshore spot markets, with the measures aimed primarily at helping the currency recover.

The People’s Bank of China also set the fixing for the yuan at 7.2 per dollar on Thursday. 

So what is the near-term future outlook for the yuan, and how will a further fall impact other regional currencies?

Will Chinese assets become less attractive to overseas investors if this is the case?

On Money in the Market, Hongbin Jeong speaks to Peter Chia, Senior FX Strategist, UOB, to find out more.