China's yuan hovers at 6 month highs, central bank sets another strong midpoint

HONG KONG: China's yuan hovered at six-month highs against the dollar on Wednesday after the central bank set a stronger midpoint for a second day.

The People's Bank of China fixed the midpoint at 6.1425 per dollar prior to market open, up 0.15 percent from the previous day's 6.1520.

The spot market changed hands at 6.1318 near midday, up 0.08 percent from Friday's close at 6.1370.

The yuan's spot rate is currently allowed to trade 2 percent above or below the midpoint.