China's state banks seen selling dollars offshore to slow yuan drop - sources

SHANGHAI/BEIJING, June 27 (Reuters) - China's major state-owned banks were seen selling dollars in the offshore spot foreign exchange market on Tuesday, four sources with knowledge of the matter said, suggesting authorities' wanted to slow the pace of the yuan's recent slide.

Such state bank dollar selling appeared as the offshore yuan weakened towards the psychologically important 7.25 per dollar level, two of the sources said. (Reporting by Shanghai and Beijing Newsroom Editing by Vidya Ranganathan and Kim Coghill)