China's Yuan Nears Decade Low as Brief Period of Calm Ends
- Chinese currency has fallen 9 percent in the past six months
- Traders boost bearish bets as capital outflows accelerate
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After a quiet few weeks, the yuan is center stage again.
The currency slid toward its weakest in a decade on Friday, approaching a key support level of 7 per dollar before managing a slight rebound. The moves came after it fluctuated in a narrow band of about 1 percent through October, the tightest range since April 2017. Now bearish wagers are building again as capital outflow pressure grows.