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CNY Fixing: Edging Closer To Neutral

CNH

The USD/CNY fix printed at 6.9343, versus a Bloomberg consensus of 6.9358.

  • Today's outcome represents a -15pip surprise in USD/CNY terms, which compares to yesterday's outcome of -22pips.
  • The 5-day rolling sum of the error term has been edging away from recent wides, now at -79pips, which is at highs back to the 17th of November for this metric.
  • USD/CNH has traded with a slightly firmer tone today, with dips sub 6.9500 supported. The pair was last around 6.9550, slightly higher post the fix.

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