The Chinese yuan climbed again against the US dollar on Monday. Analysts expected the currency to keep rising against the dollar as it adapted to the changing global economic and financial environment, though global liquidity has been volatile.

The People's Bank of China set its market guidance for yuan on Monday at a near seven-month high, 6.7935.

Last week was the yuan's best since February 2016, with the currency both onshore and offshore seeing continuous strengthening against the US dollar.