China’s central bank is forecast to double the yuan’s trading band in the coming quarter as policy makers loosen exchange-rate controls to promote greater usage of the currency in global trade and finance.
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China’s yuan tumbled the most in more than three years on speculation the central bank wants an end to the currency’s steady appreciation to ward off speculators before a possible widening of the trading band.
China’s stocks dropped, sending the benchmark index to its biggest retreat in five months, amid speculation a weaker property market and falling currency will curb corporate earnings. The yuan sank the most since 2010.