The yuan edged up against the dollar on Wednesday after China's economic growth for the second quarter came in moderately better than expected, helping to offset a weaker central bank midpoint. Spot yuan stood at 6.2066 by midday, up 0.02 percent from Tuesday's close. "The slightly better-than-expected GDP figures help to reinforce market participants' stance on going long on the yuan for now," said a trader from an Asian bank in Shanghai.
China's economy grew 7.5 percent between April and June from a year earlier, slightly above expectations and quickening from the 7.4 percent pace in the first quarter, reinforcing hopes that a recovery is under way after a flurry of government stimulus measures.