China lifts yuan midpoint to three-and-a-half-month high

2017 12 26T012733Z 1 LYNXMPEDBP01G RTROPTP 0 CHINA RATES 1 150x150 - China lifts yuan midpoint to three-and-a-half-month high

FILE PHOTO: Illustration photo of a China yuan note
FILE PHOTO: A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File Photo

December 26, 2017

SHANGHAI (Reuters) – China’s central bank on Tuesday lifted its official yuan midpoint <CNY=PBOC> to the highest level in 3-1/2 months at 6.5416 per dollar, reflecting a strong spot yuan performance a day earlier.

Tuesday’s official midpoint, 267 pips or 0.41 percent firmer than the previous fix of 6.5683 on Monday, was the strongest since Sept. 13.

China’s yuan <CNY=CFXS> strengthened through the day in holiday-thinned trading on Monday, reaching its highest level in over three months against the dollar at the official local close, following a much strengthened official midpoint.

(Reporting by Winni Zhou and Brenda Goh; Editing by Shri Navaratnam)

Source link

from CapitalistHQ.com http://ift.tt/2BQdPNv

This entry was posted in news and tagged , , , . Bookmark the permalink.