China's yuan closed at a post-revaluation high against the dollar on Monday, after a five-day visit by two U.S. senators investigating the country's foreign exchange policy.

The yuan finished at 8.0214 to the dollar, up from Friday's close of 8.0300, after the central bank set the mid-point of the yuan's exchange rate to the dollar at 8.0245, stronger than Friday's 8.0338.

The yuan has appreciated a further 1.1 percent since it was revalued by 2.1 percent to 8.11 per dollar on July 21, and freed from a dollar peg to float within managed bands.

But dealers said that it was still uncertain if US senators Chuck Schumer and Lindsey Graham would push for a vote on their bill, which threatens sanctions against China.

"Things are still quite uncertain but the trend is clearer that the yuan will continue to rise step by step," said a forex dealer at a European bank in Shanghai.

"Even Beijing is now acknowledging this, though it doesn't want to see the U.S. link the trade issue to the yuan too tightly."

Another factor that traders have to take into account is a planned visit by Chinese President Hu Jintao to the United States in mid-April.

"The market is concerned about comments made by the two U.S. senators during their visit to China as well as the political fact that Hu will soon visit the U.S.," said another currency dealer at a major Chinese bank in Shanghai.

"Before things get clearer, I think investors will continue to bet on a rising yuan in the near term. That's why you see the currency hitting new highs again and again recently."

The yuan slipped to 9.6559 against the euro from Friday's 9.6400 while there was no price on Japan's yen by Monday's close.