China’s yuan rises as PBoC midpoint fixing firms after Fed hike
On Thursday, China’s yuan edged higher versus the US dollar as the PBoC lifted the midpoint fixing to another 3-1/2-month high, while the dollar stayed near a seven-week high following the Fed’s rate hike.
China’s yuan edged higher against the US dollar on Thursday after the central bank set the midpoint fixing at another 3-1/2-month high, even as the greenback climbed after the Federal Reserve raised interest rates. The dollar held near a seven-week high on Thursday after the Fed raised interest rates.