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CNY Fixing - Another Wide Fixing Error

CNH

The USD/CNY fix printed at 7.1986, versus a Bloomberg consensus of 7.3124.

  • Today's fix represents a -1138pip surprise in USD/CNY terms. This is nearly the same as yesterday's -1139pip surprise.
  • The actual fix was a touch higher than yesterday's 7.1969 outcome, but we remain sub the 7.2000 level.
  • USD/CNH is probing Wednesday session highs in the first part of trade, but has been unable to breach 7.3280, last near 7.3220/30.
  • Note reported intervention came yesterday when spot USD/CNY was above 7.3200 (we closed at 7.3180).

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