China’s yuan further weakens, sharp depreciation unlikely

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

a veteran foreign exchange analyst, said the low was expected, and how much further the yuan would slip is closely linked to the U.S. dollar index. If the index closes lower than 96.4 on Tuesday, the central parity rate of the yuan will much probably dip below 6.69, he said.http://news.xinhuanet.com/english/2016-07/19/c_135524735.htm