CFETS Basket Falls Below 95

New 52-week low.

More from Bloomberg: Yuan Drops Against Basket Amid Growth Concern, Dollar Weakness

The greenback retreated last week as expectations for a U.S. rate increase this year all but vanished after Britain voted to leave the European Union. Data released in the past week showed a slowdown in manufacturing and industrial profits in June, while figures due next week are forecast to indicate a third monthly drop in exports.

"The market is still concerned about the Chinese economy," said Gao Qi, a foreign-exchange strategist at Scotiabank in Singapore. "When most currencies are rising against the U.S. dollar, usually the yuan will appreciate less, so the yuan will fall versus the basket."