Since China's headline-grabbing promise of currency revaluation two months ago, the yuan has...

|By:, SA News Editor

Since China's headline-grabbing promise of currency revaluation two months ago, the yuan has appreciated a paltry 0.4% against the dollar. Economist Eswar Prasad explains it was a "masterstroke for China to announce greater yuan flexibility... right about when the dollar had peaked," but the long-term picture is more complicated.