China's yuan, which hit record highs the past two days, closed slightly lower against the dollar on Thursday after the central bank signalled a pause in moves encouraging appreciation for the currency. Spot yuan closed at 6.1340 against the dollar, down from 6.1311 at the end of Wednesday trading.
Before Thursday trade began, the People's Bank of China (PBOC) fixed the yuan's midpoint at 6.1947, a little weaker than Wednesday's record high midpoint of 6.1904. The yuan is allowed to rise or fall 1 percent in a day from the central bank's base rate.
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