China’s yuan edged up against the dollar on Tuesday, as the central bank continued to lend support to prevent the yuan from weakening too fast and too far. Similar to what was seen over the past week, the People’s Bank of China (PBOC) again set a stronger-than-expected official midpoint rate on Tuesday, a sign that market participants usually use to gauge official stance towards the foreign exchange market. In addition, major state banks lowered their dollar deposit rates for the second time in a month, seven banking sources with direct knowledge of the matter said, as authorities stepped up efforts to arrest a slide ... (full story)