But few currency experts said they believed that the problems for the dollar were entirely over.
Many currency experts say a 5-to-6-percent change in the relative values of the franc and mark will be needed to end market turmoil.
But many currency experts said the plan could work only on a small scale.
In fact, confounding most currency experts, the dollar has rallied.
But currency experts and bankers say there is little doubt about who is in charge of the yen right now.
The dollar should remain stable for at least the next few weeks, currency experts say, but then should slide some more.
So what other trends are currency experts seeing?
Moreover, from a purchasing-power point of view, the mark's value is not out of line, many currency experts say.
In the July announcement, China also added a rule that puzzled some currency experts.
He has been described as "one of the world's greatest currency experts" of his time.