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China fixes yuan midpoint at softest level in two weeks
September 19, 2017 / 1:28 AM / a month ago

China fixes yuan midpoint at softest level in two weeks

FILE PHOTO - Chinese 100 yuan banknotes are seen on a counter of a branch of a commercial bank in Beijing, China, March 30, 2016. REUTERS/Kim Kyung-Hoon/File Photo

SHANGHAI (Reuters) - China’s central bank lowered its official yuan midpoint to 6.5530 per dollar on Tuesday, the weakest level since Sept.4, reflecting strength in the greenback overnight and weakness in spot yuan a day earlier.

Tuesday’s midpoint was 111 pips or 0.17 percent weaker than Monday’s fix of 6.5419.

The dollar rose on Monday, supported by a rise in U.S. Treasury yields, as traders waited on an impending Federal Reserve meeting for clues on whether U.S. interest rates could rise again by year-end.

Reporting by Winni Zhou and John Ruwitch; Editing by Kim Coghill

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