China Says It Will No Longer Peg Its Currency to the U.S. Dollar - New York Times

China Says It Will No Longer Peg Its Currency to the U.S. Dollar - New York Times: "China said Thursday it will no longer peg its currency to the U.S. dollar but instead let it float in a tight band against a basket of foreign currencies"From the BBC:"In effect, this strengthens the yuan by 2.1%, to 8.11 to the dollar. More importantly, this is seen as the first step in a complete