The Chinese yuan held near one-month lows on Tuesday after the People's Bank of China fixed the daily midpoint weaker than market estimates, with some analysts suggesting the Chinese currency's strong performance this year may have run its course. The PBOC fixed the yuan's daily midpoint at 6.1702 on Tuesday compared to broad expectations of below 6.1695. Beijing allows the yuan to trade one percent on either side of the fixing.
Expectations of yuan weakness in coming months grew after a string of weak economic data and a recent crunch in the money markets due to rare capital outflows from the mainland.
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