Here’s a great example of a country’s currency pegged to another currency which is pegged to the U.S. Dollar. Thanks to Morningstar.com.
The devaluation of the yuan against the U.S. dollar last week pressured the shares of Wynn Resorts WYNN, ” Weak Yuan Manageable for Wynn”
Sales and expenses derived in Macau are denominated in the pataca, the region’s legal currency. The pataca is pegged to the Hong Kong dollar, which is in turn pegged to the U.S. dollar.
This example is an addendum to my posting: Is a Strong U.S. Dollar good or bad?