China Yuan Up More on Stronger Fixing

        0238 GMT [Dow Jones] China's yuan rises more Wednesday after the central bank set the yuan fixing stronger to track the dollar's weakness overseas. The USD/CNY pair is at 6.2188 vs 6.2257 late Tuesday, after the central parity is set at 6.1542 vs 6.1565 Tuesday. "There is a chance that the yuan will revert to losses later today as I see the USD/CNH is bidding up offshore," says a Shanghai-based local bank trader. The yuan has accumulated close to a 0.7% gain so far this week, after its 0.7% loss in April. In the offshore yuan market in Hong Kong, the USD/CNH is at 6.2231 vs 6.2258 late Tuesday.(wynne.wang@dowjones.com)
        (END) Dow Jones Newswires

        May 06, 2014 22:38 ET (02:38 GMT)