Yuan near 5-week low; US$ will be focus of the week

Beijing

CHINA'S yuan traded near a five-week low amid speculation that the central bank will loosen monetary policy to help an economy growing at the slowest pace in six years.

The People's Bank of China will cut reserve-requirement ratios as early as the June 13-14 period, China Merchants Bank Co predicted last week. Exports fell for a third month in May and inflation eased to the least since January, official data show. An IMF team is visiting China for discussions related to the nation's push for the yuan to be included in a basket of global reserve currencies.