Yuan ends up slightly, seen continuing to track dollar index

SHANGHAI: The Chinese yuan closed up incrementally on Tuesday after the central bank kept its official midpoint almost flat to reflect small movement of the dollar in global markets.

Traders said that both market players and regulators at the People's Bank of China (PBOC) are focused on tracking trends in the dollar index, given the absence of market-moving domestic factors.

Spot yuan closed at 6.2198, or 15 pips stronger than Monday's close of 6.2213. Traders said banks and their clients were largely comfortable with the current level of the dollar/yuan rate.

Trading volume was average at $16.22 billion, up from Monday's $14.98 billion.