USD/CNY little changed, despite weaker Yuan fix

The USD/CNY pair traded flattish so far this session, with the Chinese Yuan unperturbed by a weaker mid-point fix per dollar.

The Chinese central bank weakened the Yuan at its sharpest pace since June on Monday, partly reversing the currency's gains last week. PBOC set the USD/CNY reference rate at 6.9262, sharply higher from Friday’s 6.8668.

The cross also failed to take advantage of broad based US dollar strength backed by upbeat US labour market report, which showed a rise in the hourly wages. Meanwhile, the USD index rises +0.13 % to 102.30 levels, easing-off session tops of 102.45.

At the time of writing, the USD/CNY pair trades dead flat at 6.9187, meandering near session troughs of 6.9182 in early Europe.