Yuan ends at bottom of band vs dollar for 2nd day

SHANGHAI, Dec 2 - The yuan <CNY=CFXS> closed at the bottom of its daily trading band against the dollar for a second straight day on Tuesday, amid signs that China was shifting its currency policy to allow moderate yuan depreciation as a way to stimulate its economy, traders said.

Spot yuan <CNY=CFXS> finished at 6.8870 versus the dollar, compared with Monday's close of 6.8848. The trading band extends 0.5 percent on either side of the day's central bank-set mid-point <CNY=SAEC>, which was at 6.8527 on Tuesday.

On Monday, the yuan hit the bottom of its band for the first time, and closed there.

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