Yuan slightly lower

The yuan closed slightly lower versus the dollar on Monday after the People's Bank of China fixed the mid-point a shade weaker for the third day as global economic woes pushed up the US Dollar Index over the weekend. Spot yuan closed at 6.4830 versus the dollar, down from 6.4802 at the close on Friday.
It hit an all-time record high of 6.4755 last Wednesday. Offshore, one-year dollar/yuan non-deliverable forwards were bid at 6.3890 in late trade, nearly flat from Friday's close of 6.3880. Their implied yuan appreciation in a year's time was at 1.57 percent compared with 1.58 percent.