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China weakens yuan midpoint by most in one month

SHANGHAI, Aug 7 (Reuters) - China's central bank set the yuan midpoint at 6.7228 per dollar on Monday, 96 pips, or 0.14 percent, weaker than the previous fix at 6.7132 per dollar on Friday, dragged down by gains in the greenback following an upbeat U.S. jobs report.

The move in the yuan guidance on Monday was the biggest one-day weakening in percentage terms since July 4.

The dollar stood tall in early Asian trade after the U.S. jobs report lifted it off 15-month lows.

Closely watched data released on Friday showed nonfarm payrolls increased by a bigger-than-forecast 209,000 jobs last month, while average hourly earnings increased 0.3 percent to match expectations after rising 0.2 percent in June. (Reporting by Winni Zhou and John Ruwitch; Editing by Joseph Radford)