"Who, after all, really believes Asian policy makers will forever eschew currency devaluations as a policy tool? Exchange rates are the primary macro tool in the Asia Pacific region because these economies have a high degree of dependence on trade," says Andy Xie, a Hong Kong-based economist at Morgan Stanley Dean Witter & Co.
Yet even though Beijing is hinting at a devaluation, it's doubtful currency traders will hold their collective breath.
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