Yuan ends weaker, eyes on global dollar performance

SHANGHAI: The Chinese yuan closed lower on Monday after the central bank set the official midpoint slightly weaker to reflect the strength in the global dollar late last week, traders said.

Spot yuan closed at 6.2213, weakening slightly from Friday's close of 6.2154, with traders saying banks and their clients were largely comfortable with the current level of the dollar/yuan rate.

Volumes were average, dropping slightly to $14.98 billion from Friday's $15.61 billion.

Traders have said that intra-day customers are focused on international developments impacting the dollar index in the absence of domestic market-moving factors.