A weekend piece in the Wall Street Journal

(It may be gated)

Kyle Bass ... has sold off the bulk of its investments in stocks, commodities and bonds so it can focus on shorting Asian currencies, including the yuan and the Hong Kong dollar

Biggest concentrated wager the firm has made since its profitable bet years ago against the U.S. housing market

"When you talk about orders of magnitude, this is much larger than the subprime crisis" said Mr. Bass, who believes the yuan could fall as much as 40% in that period

And, he isn't alone says the article, adding"

  • Stanley Druckenmiller
  • David Tepper
  • David Einhorn's Greenlight Capital

All in the 'yuan falling' camp

It goes on to emphasize the risk of betting against a government with plentiful resources to spend propping up a currency, and other 'levers'.