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CNH: USD/CNY Fixing Error Widens

CNH

The USD/CNY fixing printed at 7.087, versus a Bloomberg consensus of 7.0966. 

  • The fixing error was negative to the tune of -96pips in USD/CNY terms. This was the widest fixing error since Aug 23rd.
  • This suggests little push back from the authorities to the recent turn lower in USD/CNH.
  • USD/CNH fell 0.10% following the fixing to 7.102, although comfortably trades with Tuesday's ranges. The pair trades right in the middle of the monthly ranges now, with 7.0900 acting as initial support.
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The USD/CNY fixing printed at 7.087, versus a Bloomberg consensus of 7.0966. 

  • The fixing error was negative to the tune of -96pips in USD/CNY terms. This was the widest fixing error since Aug 23rd.
  • This suggests little push back from the authorities to the recent turn lower in USD/CNH.
  • USD/CNH fell 0.10% following the fixing to 7.102, although comfortably trades with Tuesday's ranges. The pair trades right in the middle of the monthly ranges now, with 7.0900 acting as initial support.