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China sets yuan mid-point at weakest since May 2017

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China's central bank set the daily yuan midpoint on Wednesday at its weakest since May last year to reflect declines a day earlier.

 

The People's Bank of China (PBOC) fixed the yuan midpoint at 6.8293 per dollar, 128 pips or 0.19 percent weaker than the previous fix of 6.8165.

 

Wednesday's fixing, the lowest since May 31, 2017, largely matched market forecasts, traders said.

 

China's yuan finished weaker against the US dollar at the domestic close on Tuesday, booking its fourth straight month of weakening - the longest such streak since early 2015.

 

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