China raises midpoint for 5th straight day to fresh 14-month high

SHANGHAI, Sept 4 (Reuters) - China's central bank raised its official yuan midpoint for the fifth straight session on Monday to 6.5668 per dollar, the strongest level since June 23, 2016.

The higher fix follows gains in the spot yuan rate on Friday.

Monday's midpoint was 241 pips or 0.37 percent firmer than the previous fix of 6.5909 set on Friday.

China's yuan strengthened to a fresh 14-month high against the U.S. dollar on Friday after its best month on record, buoyed by strong guidance while the dollar remained under pressure.

(Reporting by Winni Zhou and John Ruwitch; Editing by Shri Navaratnam)