Yuan Revalued

From the Economist:

China has revalued its currency, the yuan, and linked it to a basket of currencies-though it is not yet clear how far it will be allowed to rise.

The eleven-year peg is dead, but don't celebrate just yet. For more on the subject, see:

• The reevaluation's effect on the dollar here.
• The reevaluation's effect on other currencies here.
• A running commentary on the subject at Survived SARS (just scroll).

[China] [Currency]