China’s yuan hovers around 4-month highs on firmer official…

SHANGHAI, Nov 23 (Reuters) – China’s yuan hovered around a four-month high against the dollar on Thursday, supported by a firmer midpoint fixing, as market participants interpreted it as a persistent official attempt to nudge the local currency higher. Trading was tepid, however, as some overseas markets are shut for the Thanksgiving holiday on Thursday. And yuan traders said the local currency was mostly anchored by the official midpoint in the absence of external guidance. Prior to market opening, the People’s Bank of China (PBOC) set the midpoint rate, around which the yuan is allowed to trade in a 2% band, at a more than five-month high of 7.1212 per dollar, 42 pips firmer than the previous fix of 7.1254.…