Bonddad is on this breaking news: “Yuan Revaluation: Not a Cure All.” “This is a surprise move that caught everyone off-guard,” writes Bonddad.
“BEIJING – China dropped its politically volatile policy of linking its currency to the U.S. dollar on Thursday, adopting a more flexible system based on a basket of foreign currencies that could push up the price of Chinese exports to the United States and Europe.” (Full story: AP/Yahoo News, via RawStory)
