joining me now, we have mark mcfarlane, asia chief economist at udp. good morning.fixing or broken? [laughter] >> you can't be broken. you still have your currency. i think they are allowing the renminbi to move along with the dollar. i don't think there's too much else going on. a lot of people are looking for something, but in reality, if you look at the trend of the dollar going up and down, you can see dollar has removed the -- earlier, i think there is an element of that, which is probably why they are looking for smaller movement in the fed and were telegraphed one, priced and by the time it happens. the fixing rate is moving very slowly, this is not like brazil. does it even matter? haidi: it is another five-year low, but it's the optics of it when it comes to china, isn't it? >> i have said this a number of times -- if you look at the real exchange rate, the chinese currency is very strong. if you look at the bas numbers, it's probably the strongest currency measured on their metrics. there is quite a lot of room for the renminbi to fall from a high level. d