China Shows Bulls With $500 Billion of Yuan Bets Who’s in Charge

Efforts by China to damp speculation in its currency risks driving away investors just as it’s attempting to open up its capital markets in a once-in-a-generation economic overhaul.

After allowing the yuan to steadily rise in each of the past four years, China’s central bank let it tumble about 1 percent over the past week, the most since at least 2007. Volatility in the currency has jumped the most this month among 31 major currencies tracked by Bloomberg.

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