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China lowers yuan midpoint to weakest in nearly three weeks
September 20, 2017 / 1:34 AM / a month ago

China lowers yuan midpoint to weakest in nearly three weeks

SHANGHAI (Reuters) - China’s central bank lowered its official yuan midpoint on Wednesday to 6.5670 per dollar, the weakest level since Sept. 1, reflecting softness in spot yuan a day earlier.

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

It was the second straight day of a weaker midpoint fixing.

Wednesday’s midpoint is 140 pips or 0.21 percent weaker than Tuesday’s fix of 6.5530.

China’s onshore spot yuan weakened against the U.S. dollar on Tuesday.

Reporting by Winni Zhou and Andrew Galbraith; Editing by Richard Borsuk

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