There are reasons to be skeptical of the People’s Bank of China (PBoC)’s timing. The “one-off” reset of the Yuan was certainly an unexpected move. But the critical aspect of the move was the shift in the mechanism for setting the fix (the target value of the Yuan against the Dollar). Instead of being set unilaterally by the PBoC and allowed to move very little, the Yuan will now be, in part, set by market forces—a move the International Monetary Fund has been calling for ahead of China’s possible inclusion as a reserve currency. The resetting of the Yuan’s value has only just begun.