China’s yuan dipped against the dollar on Tuesday after closing at its weakest level since 2011 on Monday, hit by another slump in the mainland’s stock market and a weak central bank midpoint. Traders said they believed the yuan’s current range between 6.29 and 6.43 to the dollar was well accepted by the market after the currency’s recent volatility once threatened a sharper depreciation. “The yuan is unlikely to depreciate to 6.50,” said a trader at a foreign bank in Shanghai, adding that the central bank was likely to intervene to slow down the depreciation. China’s major stock indexes slumped more than 6 percent to 8-month lows in early trade on Tuesday before paring some losses by midday, continuing […]