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The Chinese yuan in offshore trading soared 1.3% overnight, the largest one-day gain in at least a year, after Bloomberg reported that the Chinese government was considering new options to support the currency which fell 7% against the U.S. dollar last year. This was the biggest yearly decline since 1994.

The most interesting measure Bloomberg mentioned was that if necessary, the government may order its state-owned enterprises to "temporarily convert some [foreign currency] holdings into yuan under the current account." Bloomberg also mentioned China may sell its U.S. Treasury holdings to prop up the yuan if necessary.