China’s central bank guided the yuan to its highest level against the U.S. dollar in more than a year and a half on Wednesday, following the dollar’s overnight slide against global currencies. The People’s Bank of China set the dollar’s daily reference rate at 6.4920 yuan, meaning the Chinese currency was at its strongest since May 2016. In recent action the yuan was down 0.1% against the dollar from its value late Tuesday.

Source: Wall Street Journal January 03, 2018 06:11 UTC