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CNY Fixing - Back Close To Neutral

CNH

The USD/CNY fix printed at 6.9117, versus a Bloomberg consensus of 6.9112.

  • Today's outcome represents a +5pip surprise, which compares with yesterday's outcome of -13pips. The rolling 5-day sum of the error term is -30pips, versus -40pips on this metric yesterday.
  • USD/CNH has been offered in the first part of trade, the pair touching making fresh lows sub 6.9000 at the time of writing. This is around 0.35% firmer in CNH terms versus NY closing levels.
  • The fixing result caused a brief move higher in the pair, but this has been sold into by the market.

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