China sets yuan midpoint firmer than key 6.6/dlr for the 1st time in 14 mths

SHANGHAI, Sept 1 (Reuters) - China's central bank raised its official yuan midpoint on Friday to 6.5909 per dollar, firmer than the key psychologically important 6.6 level for the first time since June 2016, reflecting gains in the spot yuan rate from a day earlier and broad weakness in the greenback overnight in oversees market.

Friday's midpoint, the strongest level since June 24, 2016, was 101 pips or 0.15 percent firmer than the previous fix of 6.6010 set on Wednesday.

China's yuan strengthened against the U.S. dollar late on Thursday night, gaining 2.1 percent against the dollar in August, the biggest monthly gain in percentage terms since 1994, when China unified official and market exchange rates and price data was available. (Reporting by Winni Zhou and Andrew Galbraith; Editing by Stephen Coates)