yuan slightly lower against the U.S. currency

A higher central parity rate and the dollar's gains in Asia pushed the yuan slightly lower against the U.S. currency Monday.   Dealers said the yuan is likely to keep consolidating between CNY6.8340 and CNY6.8420 in coming sessions in the absence of trading cues.   On the over-the-counter market, the dollar was at CNY6.8386, up from Friday's close of CNY6.8380. It traded between CNY6.8377 and CNY6.8389.   The dollar-yuan central parity rate was set at 6.8349, up from 6.8334 Friday.   "Investors are still worrying about the domestic economy after China released the February economic data last week," said a Shanghai-based dealer at a foreign bank.   "Due to weaker external demand, there is also decreasing need for companies to settle accounts," which leads to a drop in demand for the local currency, she added.   China's February exports fell 25.7% from a year earlier to US$64.9 billion, and imports dropped 24.1% to US$60.1 billion. In addition, the country's industrial production growth also weakened last month while consumer prices fell for the first time in over six years, raising concerns of deflation.   At 0820 GMT, the dollar was at Y98..17, up from Y98.06 late Friday in New York.   Despite Monday's higher parity rate, the market expects the yuan to stay in a tight range against the dollar.   "The market is expected to stay calm in the following sessions as China reiterated its steady yuan policy and failed to release any new stimulus measures during the National People's Congress last week," said a Shanghai-based dealer at a foreign bank.   Commerce Ministry spokesman Yao Jian said Monday "the yuan's exchange rate has remained basically stable recently and will have an important bearing on facilitating global economic recovery and the stabilization of China's foreign trade environment."