Obviously, the other graph. If you peg the value of your virtual dollar to the real Euro, they will move the same.

However, what the smoothness of one curve and the rhapsodic nature of the other tells me is that China closely manages the appreciation of the renminbi relative to the US dollar, and largely but not totally ignores the Euro. I.e. they bend to US demands, but not to an extent that the price advantage against Europe doesn't increase.

_{*Lunatic*, n.
One whose delusions are out of fashion.}