China raises yuan midpoint for 8th straight day to near 16-month high

SHANGHAI, Sept 6 (Reuters) - China's central bank raised its official yuan midpoint for the eighth straight session on Wednesday to 6.5311 per dollar, the strongest level since May 18, 2016.

The higher fix reflects overnight dollar movements in global markets, rather than spot yuan performance from a day earlier.

Wednesday's midpoint is 59 pips or 0.09 percent firmer than the previous fix of 6.5370 per dollar on Tuesday. (Reporting by Winni Zhou and Andrew Galbraith; Editing by Eric Meijer)