China to Announce Currency Revisions

April 8, 2010 7:01am by Barry Ritholtz

“The Chinese government is set to announce a revision of its currency policy in the coming days that will allow greater variation in the value of its currency combined with a small but immediate jump in its value against the dollar, people with knowledge of the consensus emerging in Beijing said Thursday.”

Translation: Minor appeasement of those annoying Americans. Anything beyond a tiny incremental change would be surprising . . .

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