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China's government let the nation's currency to climb through 7.9 to the dollar for the first time on Thursday, the latest in a series of daily highs because its pace of appreciation has mysteriously accelerated.
The currency, called the yuan or renminbi, has been rising most days for the past month, rising 0.8 percent since the start of the month, which works out to an annualized pace of 10 percent. That compares with an yearly pace of 2% to 2.5 percent throughout the majority of the months after China's 2.1 percent revaluation on July 21, 2005.
The simple truth is they're moving at a quicker pace, '' said Jonathan Anderson, the chief Asia economist at UBS.
Leading Chinese officials, almost always reticent about the value of the nation's currency, have been especially quiet over the past two weeks.
Even before the World Bank and International Monetary Fund annual meetings in Singapore at the start of last week, Chinese officials had contented themselves by repeating their longstanding promises to let the market begin playing a larger role at the currency's value, without giving any indiion of a timetable.
Http://www.iht.com/articles/2006/09/...iness/yuan.php

I wonder exactly what the value of the yaun will be had China's cuurency coverage not prevented it by getting stronger?

Any ideas on what the climbing Yuan will do to the dollar?