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China fixes yuan mid-point lower for third day, softest in nearly two weeks
September 14, 2017 / 1:34 AM / 9 days ago

China fixes yuan mid-point lower for third day, softest in nearly two weeks

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

SHANGHAI (Reuters) - China’s central bank on Thursday lowered its official yuan midpoint for a third straight day to 6.5465 per dollar, the weakest level since Sept.4.

The midpoint was 83 pips or 0.13 percent weaker than Wednesday’s fix of 6.5382, reflecting a softer spot yuan a day earlier and broad dollar moves overnight, traders said.

The dollar rose on Wednesday after a report showed U.S. producer prices rebounded in August and as traders positioned themselves ahead of consumer inflation data due on Thursday that will be closely watched by the U.S. Federal Reserve as it considers when to next raise interest rates.

Reporting by Winni Zhou and David Stanway; Editing by Shri Navaratnam

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