Yuan to stabilize around current level: expert

While fluctuations will continue, China's yuan will stabilize around current level as China's economy improves, and the country's relations with the United States advance, said a foreign exchange expert on Sunday.

"China's improving economy will certainly help the yuan as fundamentals are always the most important factor in currency movements. However they take time to take effect," said Stephen Simonis, chief currency consultant at FXDD Global.

According to International Monetary Fund's latest forecast, China's GDP growth will stand at 6.5 percent on expectations of continued policy support. The country's GDP grew 6.7 percent year-on-year in 2016, lowest reading in nearly three decades, but within the government's target range.