The world got a preview of the future, but only for 20 minutes

On Friday, the Chinese currency, the yuan, floated against the dollar for twenty minutes and appreciated a fraction of a cent. The yuan is pegged to the dollar, so Friday's float was an abberation that brought much speculation.

According to the New York Times, the yuans movement could have been the result of a technical glitch.

"Some currency traders said a more likely explanation was that a mistake was made by a Chinese employee, who may have typed a wrong number onto the government's official currency posting," the Times reported.

Or, perhaps it was deliberate. On Friday morning, a state run newspaper wrote that the yuan was finally ready to appreciate, a position out of sync with China's central party, said the Times.

But one thing is certain: the appreciation of the yuan in those 20 minutes is a precursor of what is to come, assuming the Chinese let their currency float, as they have said they would in due time.

"(Friday's) volatility is a preview of what will likely come when the actual shift of the yuan takes place," said ABN Amro in statement, reported the Wall Street Journal.