Under pressure from Japan,the United States,and Europe,China announced it switched from pegging the yuan against the dollar to linking the value of the yuan to a 'basket' of currencies.The result of this change was
A) the value of the yuan increased slightly relative to the dollar.
B) the value of the yuan has become very responsive to changes in demand and supply in the foreign currency market.
C) the value of the yuan has increased dramatically and is beginning to remove the trade imbalance between the United States and China.
D) the value of the yuan has decreased dramatically and has further spurred Chinese exports.
Correct Answer:
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A)actions taken by the
