PBOC sets strongest fix for yuan this year

The People's Bank of China set its daily yuan reference rate at 6.4905 versus 6.5127 on Thursday, a 0.3% appreciation and the strongest fixing since Dec. 30, according to a Dow Jones Newswires report. The move shook up currencies trading, with the dollar recently trading 0.2% lower at 6.4982 yuan after falling as low as 6.4862. "The fix has come in largely as expected but the market has got a little bit excited," said Sue Trinh, an RBC Capital Markets strategist, told Dow Jones Newswires. "It's reacted by selling USD across the board."

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