Yuan ends up

The yuan ended up slightly versus the dollar on Friday after the People's Bank of China allowed the yuan's mid-point to post its biggest daily climb in four months, providing more evidence that the central bank is willing to let the currency move in a wider range. Spot yuan closed at 6.3107 versus the dollar, stronger than Thursday's close of 6.3165.
Before trading began, the PBOC set the midpoint at 6.3073 compared with Thursday's 6.3235, the fixing's biggest single-day rise since late October last year. In the offshore non-deliverable forwards (NDF) market, the benchmark one-year NDFs implied yuan appreciation of 0.22 percent in afternoon trade, compared with 0.20 percent they implied at Thursday's close.