September 18, 2024 01:24 GMT
CNH: USD/CNY Fixing Error Widens
CNH
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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.
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