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CNH: USD/CNY Fixing Lower, Error Term Wider Despite Softer USD

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The USD/CNY fix printed at 7.1894, versus a Bloomberg consensus of 7.2501. 

  • The fixing error widened today, despite the lower USD backdrop. Today's error was -607pips in USD/CNY terms, fresh wides back to Aug 2.
  • The actual fix came down by more than the fixing consensus estimate. USD/CNH was above 7.2500, but sits lower now, last near 7.2475. This is still slightly weaker in CNH terms for the session. 
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The USD/CNY fix printed at 7.1894, versus a Bloomberg consensus of 7.2501. 

  • The fixing error widened today, despite the lower USD backdrop. Today's error was -607pips in USD/CNY terms, fresh wides back to Aug 2.
  • The actual fix came down by more than the fixing consensus estimate. USD/CNH was above 7.2500, but sits lower now, last near 7.2475. This is still slightly weaker in CNH terms for the session.