Yuan weakens against strong greenback, but fall limited by robust dollar selling - NewsBreak

SHANGHAI, Nov 12 (Reuters) - China's yuan weakened on Friday against the greenback, which has strengthened on expectations of further U.S. monetary tightening, but strong dollar selling by Chinese exporters limited the yuan's fall. The yuan opened at 6.3950 per dollar and was changing hands at 6.3960 at midday, 60 pips weaker than the previous late session close, despite the People's Bank of China setting a stronger midpoint rate at the open. The dollar index, which measures the value of the greenback against a basket of major world currencies, hit a three-month high on Friday. The U.S. currency has been bolstered by bets the Federal Reserve will tighten monetary policy further - including raising interest rates next year - to tame inflation which could be stickier the Fed expected. But China's widening trade surplus, and thus robust demand for exporters to sell the dollar for the yuan, is underpinning the Chinese currency, traders say. "There's a flood of dollar-selling (from clients)