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Yuan bears take a US$562m beating from currency's resilience

Options that pay out if yuan drops below 6.6 per US$ expire worthless

Bearish investors now face a difficult choice - they can abandon the trade, or hunker down for what could become a costly waiting game.

Hong Kong

THE battle over the fate of China's currency is starting to get bloody for the bears.

Seven months after a shock devaluation spurred hedge funds and other speculators to wager on further declines, the yuan's unexpected resilience has turned many of those bets into losers...

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