China's yuan rose slightly on Thursday after the dollar weakened in global markets on poor US data and after the central bank set a slightly stronger official midpoint. "The dollar slid against most currencies after the data, with its weakness spilling over to the Chinese market," said a trader at a Chinese commercial bank in Shanghai.
The People's Bank of China set the midpoint rate at 6.3402 per dollar prior to market open, 0.01 percent firmer than the previous fix 6.3408. The spot market opened at 6.3436 per dollar and was changing hands at 6.3415 at midday, 0.1 percent firmer than pips the previous close. The offshore yuan was moving in line with the onshore spot at 6.3415 per dollar around midday.