China raises yuan midpoint for 10th straight day to near 16-month high

SHANGHAI, Sept 8 (Reuters) - China's central bank raised its official yuan midpoint for the 10th straight session on Friday to 6.5032 per dollar, the strongest since May 12, 2016.

The higher fix reflects the yuan's firmer performance from a day earlier.

The last time the midpoint was set higher for 10 days in a row was in late December 2010.

But Friday's midpoint - 237 pips or 0.36 percent firmer than the previous fix of 6.5269 per dollar - was weaker than market expectations, trader said.

Their forecasts had suggested the guidance might be firmer than 6.5 per dollar.

(Reporting by Winni Zhou and David Stanway; Editing by Kim Coghill)