China's yuan edged down on Monday, guided by a weaker midpoint from the central bank, even as data indicates corporate demand for the currency remained robust. The People's Bank of China (PBOC) set a weaker midpoint on Monday after the dollar index rose overnight on Friday.
Spot yuan touched a record high of 6.1723 per dollar last Wednesday when the central bank set its midpoint at its strongest level ever at 6.2342. At its current level, the spot rate is still only 0.17 percent weaker than that record.
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