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ANALYSIS-Yuan bears throw in the towel, say it isn't worth fighting China's PBOC
The PBOC has made some moves to defend the yuan, which is also known as the renminbi. They are not happy with a really weaker renminbi, said Mark Nash, the London-based head of global bonds at Old Mutual Global Investors. That has put a floor under a currency which fell 6.5 percent in 2016 and 4.5 percent in 2015. Concern about the decline led the central bank to spend a billion dollars over 2-1/2-years to defend the yuan.
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