The People's Bank of China on the 31st set the yuan's daily midpoint against the dollar at a level significantly weaker than market expectations, with the deviation reaching its widest in five months. The midpoint was fixed at 6.7894 per dollar, 581 pips weaker than Reuters' estimate of 6.7313, marking the largest downward bias since February 27. The central bank has been setting the midpoint on the weaker side of market forecasts since November last year, a move analysts and traders view as aimed at maintaining currency stability and preventing excessive yuan appreciation.