China lifts yuan midpoint to 27-month high
China's central bank on Wednesday lifted its official yuan midpoint to a more than 27-month high, following gains in the spot market a day earlier. It was the strongest guidance rate since July 16, 2018. The yuan ended its domestic trading session at a more than 27-month high against the dollar on Tuesday, after the central bank set its daily guidance rate on the stronger side of a key threshold.
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China's central bank on Wednesday lifted its official yuan midpoint to a more than 27-month high, following gains in the spot market a day earlier. The People's Bank of China (PBOC) set the midpoint rate at 6.6781 per dollar prior to the market open, 149 pips or 0.22% firmer than the previous fix of 6.6930. It was the strongest guidance rate since July 16, 2018.
The yuan ended its domestic trading session at a more than 27-month high against the dollar on Tuesday, after the central bank set its daily guidance rate on the stronger side of a key threshold.
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