Mises Wire
Author:
Stefan Karlsson
Online Publish Date:
This weekend marks the one year anniversary of China’s first step away from its more than decade old peg to the U.S. dollar. This meant a small 2.1% revaluation from 8.28 to 8.11 versus the dollar, as well as —they claimed— a move from a pure dollar peg towards a peg to a currency basket, consisting —they claimed— of the U.S. dollar, the euro, the