[bruinbirdman]

"The Yuan rose about 5.5% over the last 12 months."

The chart appears to show the yawn floating, down. Yet it is pegged to the buck. If the greenback falls, how can the yawn rise?

yitbos

[ran20]

The chart appears to show the yawn floating, down. Yet it is pegged to the buck. If the greenback falls, how can the yawn rise?

In 2005 the Chinese broke the absolute peg with the dollar which was at 8.28 yuan per dollar. But they made it so the Yuan could only move .1% up or down each trading day. Then later they made it so the Yuan could move .3% up or down each day. And they may have made an additional loosening of controls since then.

I like how China gradually makes changes, ending at the eventual goal.. without one chaotic leap with disastrous impact.

[familyop]

"The chart appears to show the yawn floating, down."

It shows the number of yuan on the dollar. Divide 1 by 7.5, and you'll see a figure near what I posted in my last comment.