China’s Latest Currency Push is ‘Business as Usual:’ JPMorgan Strategist

China moved its yuan higher against the dollar on Friday, but investors shouldn't be alarmed, according to one analyst. 'I think it's business as usual,' said David Lebovitz, global markets strategist at JPMorgan Asset Management, based in New York. 'The dollar has been weak against the euro and the yen. I think what you see is the Chinese marking the [yuan] relative to that basket of currencies that they've been talking about. He said it shows that China is thinking about the yuan in relation to a broader basket of currencies, instead of just the dollar. China pushed its yuan higher by 0.52 percent - its biggest one-day move since last November. While markets may be more accustomed to sudden moves in the yuan this year, when China devalued its yuan by some 2 percent against the dollar back in August of 2015, markets tanked. TheStreet's Scott Gamm reports from Wall Street.