China sets yuan mid-point at weakest level in one month

SHANGHAI: China's central bank lowered its official yuan midpoint to 6.7307 per dollar on Thursday, the weakest level in a month, pressured by broad dollar strength overnight in global markets.

Thursday's midpoint was 102 pips, or 0.15 percent, weaker than the previous fix of 6.7205 and was the softest since March 29.

The dollar index, which measures the US currency versus a basket of six major rivals, surged to the highest level since June 2017 after a surprise drop in a leading indicator for economic activity in Germany.