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

Efforts by China to damp speculation in the yuan risks driving away investors just as the nation attempts to open up its capital markets in a once-in-a-generation economic overhaul.

After allowing the currency 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 yuan has jumped the most this month among 31 major currencies tracked by Bloomberg.