World stocks up on China currency announcement

The token revaluation meant to appease and redirect attention will, as China suggests, do little to rebalance global growth. Low interest rates and "soft" peg to the U.S. dollar will ensure an extension of the infinite QE policies of the West will be balanced in the East.

World stock markets rallied Monday on China's decision to allow its currency to appreciate against the dollar, a move that will allow it to keep interest rates low and will help rebalance growth in the world economy.

Source: finance.yahoo.com