China’s latest currency move has drawn muted responses from the IMF and U.S. Treasury. As quoted in The New York Times, the IMF said “China’s new plan for determining the value of the renminbi ‘appears a welcome step as it should allow market forces to have a greater role.’ But the IMF also carefully noted that “the exact impact will depend on how the new mechanism is implemented in practice.” The U.S. Treasury’s statement followed a similar line.