China's yuan stands at a firmer position against the US dollar on Wednesday. China's central bank lifted its official yuan midpoint to the highest level in 20 months to 6.4920 per dollar on Wednesday.

That's breaching the psychologically important 6.5 per dollar level and reflecting broad dollar weakness and solid spot yuan performance. Wednesday's official midpoint was 159 pips, or 0.24 percent, firmer than the previous fix on Tuesday. It was the strongest since May 3, 2016. The strength in the official yuan midpoint follows a weaker dollar. The dollar fell on Tuesday to its lowest in more than three months on expectations of a slower pace of interest rate increases by the Federal Reserve.