The Chinese yuan closed flat in range-bound trade on Tuesday near the official midpoint after the dollar recovered some ground following falls on expectations of further monetary easing steps by the US Federal Reserve. The Chinese central bank fixed the yuan's official midpoint - from which spot prices are allowed to diverge by 1 percent in either direction - at 6.3391, a scant 16 pips away from Monday's midpoint and slightly weaker than the closing spot price the previous day.
Spot prices opened nearby at 6.3386 and moved around the midpoint in a narrow range throughout the morning, closing at 6.3351, near Monday's close at 6.3376.
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