China guided its currency past another key point widely watched by investors, signaling it may be willing to weaponise the yuan should President Donald Trump follow through on his threat to put more tariffs on Chinese goods.

China's central bank Thursday set the midpoint of the yuan's daily trading range above 7 to the American dollar for the first time in more than a decade. The move in effect tells financial markets that Beijing expects the yuan to continue to weaken versus the dollar, perhaps well past the 7-to-the-dollar level.

That is likely to provoke more ire from the Trump