China's central bank on Thursday set the yuan US dollar rate at 6.7736.  

That was 31 basis points lower than the previous setting. The yuan has lost about 1.5 percent against the US dollar since the beginning of October.

That's come as the dollar has strengthened on rising expectations of a US Fed interest rate hike by the end of the year.

Let's hear from Steve Brice, chief investment strategist at Standard Chartered.