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CNY Fixing - Close To Expected


The USD/CNY fix printed at 7.0904, versus a Bloomberg consensus of 7.0909.

  • Today's fix is a -5pip surprise in USD/CNY terms, marking the fourth straight session of a below expected fixing outcome. Still, the error terms for the past 5 sessions is little changed at -20pips.
  • USD/CNH has been on the front foot for most of today's session, last tracking near 7.1200. We opened this morning at 7.1090. The broader USD backdrop has been supported amidst higher US yields, a continuation of moves seen in NY trade on Friday.

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