China adjusts yuan midpoint mechanism: sources

Shanghai

CHINA tweaked its formula for setting the daily reference midpoints for its yuan currency on Monday, three sources with direct knowledge of the matter said, in what was seen as the authorities' latest move to help curb speculation in the currency.

Global attention on China's exchange rate policy has intensified since its foreign exchange reserves fell below the US$3 trillion level in January, but currency traders said it was too early to say if the latest changes were anything more than technical in nature.