SHANGHAI, July 30 (Reuters) - China's yuan fell to a fresh



13-month low against the dollar on Monday, weighed by a much weaker central bank fixing and expectations the Chinese currency

has further to fall as U.S. trade tensions worsen. 



In addition to developments in the global trade environment,investors are focusing on the amount of liquidity policy makers have injected into the financial system. 



"Together with announcements by the People's Bank of China (PBOC) that will ease credit conditions, and a more gradual shift in the monetary stance over the last two months, this

represents a significant change towards more accommodative policy," analysts at Moody's said in a note. 



Prior to market opening, the PBOC lowered the midpoint rate to 6.8131 per dollar, largely matching market forecasts, 189 pips or 0.28 percent weaker than the previous fix

of 6.7942 last Friday. 



In the spot market, the onshore yuan opened at

6.8159 per dollar and eased to a low of 6.8401 before changing hands at 6.8353 at midday, 213 pips weaker than the previous late session close and 0.33 percent softer than the midpoint. 



The onshore spot yuan hit its lowest intraday level sinceJune 27, 2017.