China's yuan falls

China's yuan fell against the US dollar on Thursday after the greenback climbed to seven-week highs, boosted by growing expectations that the US central bank will raise interest rates later this month. The People's Bank of China set the yuan's midpoint rate at 6.8809 per dollar prior to the market open, weaker than the previous fix of 6.8798. Offshore yuan was trading 0.11 percent stronger than the onshore spot at 6.8761 per dollar. One-year NDFs are settled against the midpoint, not the spot rate.