The yuan was little changed against the dollar in cautious trade on Thursday, with some traders squaring their long dollar positions ahead of Britain's referendum on whether to stay in or leave the European Union. The dollar index slid 0.3 percent on Wednesday and extended losses in early Asian trade on Thursday, when sterling hit a six-month high helped by reduced fears of Britain exiting the EU.
Spot yuan opened at 6.5747 per dollar and was changing hands at 6.5747 at midday, flat from the previous close when the market had already factored in some of the dollar's broad weakness. On Wednesday, the yuan firmed 0.2 percent regardless of the PBOC's 0.42 percent weakening of the official midpoint.