China’s central bank will have to step back from supporting the yuan by early December and allow the currency to decline, given the current strain on foreign-exchange reserves, according to Rabobank Group. The nation has to keep at least $2.7 trillion in hand to avoid any potential shortfalls, considering it needs $1 trillion to pay for six months of goods imports and $1.7 trillion to service external debt, Michael Every, head of financial markets research at Rabobank in Hong Kong, wrote in a note Tuesday. The stockpile will shrink by $40 billion a month for the rest of 2015, partly due to efforts to prop up the ... (full story)