The yuan ended down slightly against the dollar on Thursday after the People's Bank of China set a weaker mid-point, tracking a stronger dollar index. Spot yuan ended at 6.4676 versus the dollar on Thursday after climbing to a new intraday high, weaker than Wednesday's record closing high of 6.4629. The yuan traded as high as 6.4605. The yuan's previous record high, hit on June 17, was 6.4634.
Before trade began, the PBOC set the yuan's daily mid-point at 6.4736 versus the dollar, lower than Wednesday's historical high of 6.4683. One-year dollar/yuan NDFs were bid at 6.3900, up from the previous day's close of 6.3790. Their implied yuan appreciation in a year's time fell to 1.31 percent from 1.48 percent.