Yuan Declined 10% Since February

The Renmimbi (yuan) is down 10% since the end of February and is risk of breaking 7 per dollar.

Currency Threat

The Wall Street Journal reports China Puts Yuan Skeptics on Notice as Currency Nears Decade Low.

A top Chinese policy maker warned investors to stop betting against the country's currency Friday, boosting the yuan after it had fallen to nearly its weakest in a decade.

"For forces that try to short renminbi, we fought hand to hand a few years ago, and we are very familiar with each other," said Pan Gongsheng, a vice governor of the People's Bank of China, at a briefing on Friday. "I think it's still fresh in both of our memories."

The comments from Mr. Pan, who is also the head of the country's foreign-exchange regulator, were the latest sign that Beijing is growing concerned about its currency again, more than three years after a previous bout of depreciation sparked global market havoc.

China has made it more expensive this year for traders to place bets against the currency and tweaked the mechanism for setting its official daily trading range—efforts aimed at reining in the yuan's tumble.