Yuan ends slightly weaker, more volatility seen

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SHANGHAI, Jan 6 (Reuters): China's yuan hit its lowest point in more than a week on Friday after the central bank set a weaker mid-point for the second straight day following a surge in the dollar overnight.
Spot yuan closed slightly down at 6.3095 per dollar against Thursday's close of 6.3017. The People's Bank of China (PBOC) set a mid-point of 6.3166, 51 pips weaker than Thursday's mid-point and 165 pips weaker than Wednesday, when the yuan broke 6.30 to an intraday high of 6.2919.
It marked the largest two-day decline in the mid-point since mid-October, when the mid-point dropped 279 pips over the course of three days.
The PBOC's weaker mid-point was a response to a fall in the euro, dealers said. The euro hit a 15-month low against the dollar on Thursday.