China announces that the Swiss Franc will become the seventh major world currency that will be allowed direct conversion to the yuan, bypassing the need to first convert to U.S. dollars.

China announces that the Swiss Franc will become the seventh major world currency that will be allowed direct conversion to the yuan, bypassing the need to first convert to U.S. dollars. 


Cutting out the middleman,  In this case, the "middle man" being the ever more vulnerable U.S. dollar.