[Heebert]

Okay, does anybody really think this is going to change anything? 2% is really nothing to be excited about. This isn't going to affect the trade balance, this is only serving to pacify the political pressures here in the US in order to avoid a much stiffer penelty. The chinese have mentioned nothing about the so called basket of currencies they are using to peg the yuan. Transparency at its greatest to say the least. This will serve to have a bullish effect of equities because this should seemingly increase exports...albeit only a tad. It will hurt those corporations that import goods from china. Because the chinese are backing off of their currency manipulation, the debt market will experience the bearish of bearish reactions. Expect yields to soar on this one. Along with this, everything that the chinese buy, including oil will get cheaper for them increasing their purchasing power. Fun stuff...and it has only just begun.

[RegulatorCountry]

"The People's Bank of China will announce the closing price of a foreign currency such as the US dollar"

LOL. Nope, no "peg" there. None whatsoever.

[EagleUSA]

2% is really nothing to be excited about.
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Just another stroke-job from the ChiComs so the Washington politicos can say they took China to task and won! (barf bucket please).