HONG KONG—China’s currency surged to its highest level against the dollar in six months in offshore markets on Wednesday, a move some traders ascribed to Chinese central bank intervention meant to warn investors off betting against the yuan following Moody’s downgrade of Chinese government debt last week. The yuan rose as high as 6.7677 to the U.S. dollar in the offshore market, centered in Hong Kong, its strongest intraday level since Nov. 4, according to Wind Info. That marked a gain of 0.8% from its level late Tuesday....

Source: Wall Street Journal May 31, 2017 11:26 UTC