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CNY Fixing - Another Record Wide Fixing Error

CNH

The USD/CNY fix printed at 7.1729, versus a Bloomberg consensus of 7.3028.

  • Today's fix represents a -1299pip surprise in USD/CNY terms. This is marginally wider than the -1294pip outcome yesterday and represents a fresh record wide in terms of the fixing error.
  • The actual fix was very close to yesterday's level. Indeed, this week has seen a 7pip difference in terms of fixing outcomes (Monday's was 7.1736, versus today's 7.1729).
  • USD/CNH is lower post the fix tracking sub 7.3100. Highs today were at 7.3170. We remain in recent ranges for the pair.

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