The Chinese Yuan is pegged to the US Dollar --- with occasional 'adjustements' or small revisions by the Chinese government.   This chart shows a general, vague idea of what 'may' be the movement of the currency if it were allowed to float.   Both the Australian Dollar (developed market) and the Brazilian Real (emerging market) are considered 'commodity currencies' and are in a way comparable to China.

To see other timeframes for this relationship,  type CYB BZF and FXA into the text boxes and push the 'Compare Returns' button here:

http://www.etfreplay.com/charts.aspx

 These 3 'different' markets all showing remarkably similar return and risk profiles --- symbolizing broader forces at work:

European indexes have generally tracked the S&P 500 when adjusted for currency.

Alter time periods and/or change symbols here:

http://www.etfreplay.com/charts.aspx