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The yuan in its biggest fall traded in 3-year low for now. This is because The People's Bank of China (PBoC) was allowed the yuan to depreciate by the about 2% against the US dollar:
Australian dollar falls by 120 pips as Chinese yuan devalued:
According to the comments made by The People's Bank of China as well as int'l analysts, PBoC allows for yuan depreciation to help exporters: "Appropriately, money and credit growth will therefore provide a bigger support to domestic demand."
On the main time, according to EU spokesperson - the EU says China's decision re yuan is a "positive development" but it is difficult to understand about how they expect it to be a positive impact for example.
