BREAKING NEWS

China fixes yuan midpoint at strongest since mid-November

By REUTERS

JANUARY 24, 2017 03:56

SHANGHAI - China set its official midpoint at 6.8331 per dollar prior to the market open on Tuesday, its strongest level since Nov. 14.

Tuesday's fixing was 241 pips, or nearly 0.4 percent, stronger than the previous fix, which was at 6.8572.

Market participants said the strength in the official guidance rate was due to a broad slide in the dollar, which was pressured by concerns about the impact of US President Donald Trump's protectionist trade stance.

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