China's Central Bank sets new midpoint for the Yuan - CNA News

The Chinese yuan inched up in early trade on Aug 8, despite the Chinese central b ank setting its official midpoint past the key seven-to-the-dollar mark. This is the first time the People's Bank of China has done so in more than a decade. The yuan had breached the mark earlier this week, but had not been fixed at this level. This comes just three days after the US named China as a currency manipulator.