| From MarketWatch: China is likely tracking more than a dozen currencies in addition to the U.S. dollar in setting the value of the yuan, though there's no guarantee it will pay much heed to fluctuations apart from those of the greenback in setting the value of its currency, analysts say.
In a note Monday, Bank of America-Merrill Lynch economists headed by Ting Lu in Hong Kong cautioned that that "jury was still out" on whether Beijing will truly follow a basket-linked currency regime. Nevertheless, he offered estimates of the composition and weighting of the basket of currencies that China is using to set its daily trading range for the yuan..............................................Full Article: Source
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