China's yuan firms against dollar, supported by bullish view

SHANGHAI: China's yuan rose against the dollar for a third straight day on Wednesday bolstered by bullish sentiment on the currency, with technical buying helping to offset the flat midpoint fixing.

The People's Bank of China set the midpoint rate at 6.1658 per dollar prior to market open, only 0.01 percent stronger from the previous fix. The spot rate is currently allowed to trade 2 percent above or below the midpoint.

The spot market opened at 6.1505 per dollar, and was changing hands at 6.1490 at midday, up 0.05 percent from the previous close.