China unpegs Yuan/Dollar
Asian stock markets rose early Monday after China ended its two-year peg to the dollar over the weekend, though there was no immediate change in the yuan's exchange rate.
They are not going to float it, but they are taking the hard peg they had fixed during the finance crises off. China will let the Yuan move up a bit, but they are not saying how much or how fast. It is probably a good thing, since the Yuan really does need to move up a bit, but nothing is being said about what the US might have promised China to get this chance.
Jay