The Chinese yuan wiped out its early Asian session's losses against the U.S. dollar shortly thereafter.
The yuan that fell to more than a 3-week low of 6.1507 against the greenback earlier has recovered with pair trading at 6.1406. The Chinese markets were closed for Dragon Boat holiday.
The People's Bank of China set today's central parity rate for the yuan at 6.1612 per dollar, compared to Friday's reference rate of 6.1620. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1% from the level.
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