China eases Exchange rate control. Let Yuan rise.

Beijing revalued the yuan against the dollar by 2.1 percent in July 2005 and has let it rise another 5.3 percent since then in tightly controlled trading.

In the latest change, the yuan will be allowed to fluctuate against the dollar by 0.5 percent a day, up from 0.3 percent, the central bank announced last week.

As I am going to trade Yuan from long side I will come back to you with financial derivates after my selection.