The People’s Bank of China set the yuan’s daily reference rate at 7.1496 per dollar on Friday, signaling a stronger currency than the previous onshore close of 7.1998. The fixing, which determines the trading band for the day, came in firmer than market expectations, underscoring the central bank’s continued preference for limiting excessive depreciation. Despite the supportive fixing, the onshore yuan slipped to 7.2039 per dollar in early trading, its weakest level since 29 May. The offshore yuan followed suit, touching 7.2145, the lowest since 2 June, as investors weighed concerns about China’s economic outlook and widening interest-rate differentials with the United States.