People's Bank of China

China's central bank, the People's Bank of China, set a firmer daily reference rate for the yuan against the US dollar, a move being read as a signal of support for the currency. The tighter fixing is drawing attention from currency traders and market watchers assessing Beijing's stance on the yuan's value.

China's central bank set the yuan's daily reference rate at 6.7399 to the US dollar, a firmer fixing than the previous day's 6.7489. The daily fix from the People's Bank of China guides onshore trading and is closely watched by currency traders for signals on official policy toward the yuan.

China's central bank, the People's Bank of China, set its daily yuan midpoint reference rate at a stronger level against the US dollar for Tuesday's session. The higher fixing points to a firmer official stance on the currency and is being watched by traders for signals on policy direction and the yuan's near-term trajectory.