China sets yuan midpoint at strongest level since June 19

China's central bank set the yuan midpoint at 6.8053 per dollar on Wednesday, lifting it 239 pips from the previous day's fixing to its strongest level since June 19.

The appreciation of the daily official guidance, a 0.4 percent move, was also its biggest one-day strengthening in percentage terms since June 1.

The strength in the yuan fixing followed a surge in the spot yuan rate on Tuesday, along with broad weakness in the U.S. dollar overnight in the global markets.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)