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CNY Fixing - Fixing Error Term Re-Widens

CNH

The USD/CNY fixing printed at 7.1265, versus a Bloomberg consensus of 7.1441.

  • Today's fixing represents a -176pip surprise in USD/CNY terms, wider than yesterday's -60pips. The cumulative sum of the fixing error is now at -1516pips for the past 5-sessions.
  • USD/CNH has tracked lower in the first part of dealings. Part of this is reflective of softer USD trends against the majors. The last leg lower sub, 7.1400, has come post the fixing outcome. Earlier highs were near 7.1550.

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