Views Article – Sharenet Wealth

Asia, Forex

China lifts yuan mid-point to strongest in 2-1/2 weeks

SHANGHAI, July 19 (Reuters) – China’s central bank on Friday lifted its official yuan midpoint to 6.8635 per dollar, the strongest in 2-1/2 weeks, tracking weakness in the greenback after a U.S. Federal Reserve official bolstered market bets of an interest rate cut later this month.

Friday’s midpoint was 126 pips, or 0.18 percent, firmer than the previous fix of 6.8761 and was the strongest since July 2.

(Reporting by Winni Zhou and John Ruwitch Editing by Shri Navaratnam)

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