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Some of the best analysis about China’s yuan policy might begin with the oft-used doggerel “Here I sit broken-hearted…” After China grudgingly acceded to a yuan revaluation in July 2005 and allowed the currency to trade higher in straight-line fashion for nearly three years it ceased and desisted without announcement in July 2008.But in a concession to the US we can summarize as “If I do it will you shut up already?” they let it be known by late March 2010 they would begin a revaluation at a time of their choosing; we discussed the market for yuan forwards in