Chinese yuan weakens, more stimulus fails to bring cheer

The Chinese yuan fell 0.1%, taking little support from a strong midpoint fixing by the People’s Bank of China.

Markets also appeared to be underwhelmed by Beijing’s vow to roll out more measures to support private investment in the country. A notice released on Monday said the government plans to allow private companies into sectors including transport, water, and other infrastructure, and will also release policies to make investing in the country easier.

Chinese officials also vowed to increase liquidity measures after economic growth slowed sharply in the second quarter. But any increases to liquidity are negative for the yuan.