China's yuan falls vs dollar on weaker-than-expected factory data

SHANGHAI: China's yuan weakened against the dollar on Monday as growth fears deepened after the release of China's factory output data over the weekend, offsetting a firmer midpoint set by the central bank.

China's factory output grew at the weakest pace in nearly six years in August while growth in other key sectors also cooled.

The People's Bank of China (PBOC) set the midpoint rate at 6.1452 per dollar prior to market open, up 0.03 percent from the previous fix. The spot rate is currently allowed to trade 2 percent above or below the midpoint.

But the yuan's spot rate was changing hands at 6.1387 by midday, down 0.07 percent from the previous close.