Yuan Not Quite "Free" Floating Yet

This past Saturday, China announced its intentions to increase the flexibility of its yuan exchange-rate system. But, since then, we still have yet to see any drastic appreciation.

Either way… all that new yuan “flexibility” doesn’t look like it’s going to do Uncle Sam a lot of good… a little arm stretch at best.

This post came to our attention via The Mess That Greenspan Made.

The Daily Reckoning