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China lifts yuan midpoint to 3-week high, biggest one-day strengthening since June 1

June 1@

SHANGHAI, Oct 11 (Reuters) - China's central bank lifted its official yuan midpoint to the highest level in three weeks to 6.5841 per dollar on Wednesday, reflecting spot yuan performance a day earlier and dollar movement in global markets overnight.

The move in the official guidance rate was the biggest one-day strengthening in percentage terms since June 1.

Wednesday's official midpoint was 432 pips or 0.66 percent firmer than the previous fix of 6.6273 per dollar on Tuesday. However, market participants said the official fix came in much stronger than their models had suggested.

China's onshore and offshore yuan jumped against the U.S. dollar on Tuesday to their strongest level in more than two weeks, breaching a key psychological threshold.

(Reporting by Winni Zhou and John Ruwitch; Editing by Sam Holmes)