Yuan bears are on the prowl, emboldened by a belief that policy makers in China can do little to battle the surging dollar. The onshore yuan’s slump on Wednesday to its lowest since 2008 drew yet another verbal warning from the People’s Bank of China, which cautioned against speculation on the currency and said it had “plenty of experience” in fending off shocks. The comments came just days after the central bank made it more expensive to bet against the yuan in the derivatives markets. A jump in the required ratio to 20% as of Wednesday, from the previous 0%, increased the cost of purchasing dollars in the currency ... (full story)