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CNY Fixing - Close To Expected

CNH

The USD/CNY fix printed at 7.1201, versus a Bloomberg consensus of 7.1204.

  • This continues the recent run of close to expected USD/CNY fixing outcomes. The 5-day rolling sum of the fixing error remains close to neutral.
  • USD/CNH has shown an early upside bias today, the pair last above 7.1400, around 0.20% weaker in CNH terms versus closing levels in NY at the end of last week. Some disappointment may be filtering through around lack of fresh stimulus details from Friday's State Council meeting.

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