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China central bank sets yuan mid-point near one-month strong point vs dollar

Reuters

SHANGHAI (Reuters) - The People's Bank of China set its official yuan midpoint rate (CNY=SAEC) at 6.5419 per dollar prior to the market open on Thursday, the strongest fixing since Jan. 6, after the dollar tumbled in global markets.

The dollar nursed hefty losses against the yen and euro on Thursday after tumbling overnight when a top Federal Reserve official tempered expectations on the pace of future U.S. interest rate increases.

(This story corrects "high" to "strong point" to clarify exchange rate firmed vs dollar but rate was mathematically lower)

(Reporting by Lu Jianxin and Pete Sweeney; Editing by Kim Coghill)