China sets yuan mid-pt lower after U.S. House bill
SHANGHAI, Sept 30 (Reuters) - The People's Bank of China unexpectedly fixed the yuan's daily mid-point CNY=SAEC versus the dollar at a lower level on Thursday in an apparent expression of unhappiness over U.S. pressure on China to let the yuan rise.
The U.S. House of Representatives stepped up pressure on China to let its currency rise faster, passing a bill on Wednesday that could penalise Chinese goods, as lawmakers blamed it for lost jobs in America. [ID:nN28172488]
Ahead of the U.S. vote, the PBOC had said China would increase the flexibility of the yuan and improve the way it manages the exchange rate with reference to a basket of currencies of the country's trading partners. [ID:nTOE68S088]
Mid-point Previous day's mid-point Previous day's close
6.7011 6.6936 6.6868
The PBOC issues mid-point data through the Shanghai-based interbank market, the China Foreign Exchange Trade System (CFETS), on the market's website, www.chinamoney.com.cn.
The yuan may rise or fall 0.5 percent against the dollar from its mid-point each day. (Reporting by Lu Jianxin and Jacqueline Wong)
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