China’s ‘Big Mama’ steps in as yuan tumbles further

AS China faces off against the U.S. in a burgeoning trade dispute, the country’s central bank is allowing the yuan to weaken against the dollar while also trying to prevent the kind of sharp devaluation that could have a destabilizing effect on its own economy.

That balancing act was on display Wednesday: The yuan fell to a more-than-six-month low against the dollar before the People’s Bank of China appeared to intervene to stem the decline.