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CNY Fixing - Fixing Error Widens To Counter USD Strength

CNH

The USD/CNY fix printed at 7.1795, versus a Bloomberg consensus of 7.3176.

  • Today's fix represents an -1381pip surprise in USD/CNY terms. This is wider than yesterday's -1290pip outcome.
  • The actual fix was unchanged versus yesterday's outcome. This leaves the upside cap on spot USD/CNY at 7.3231. Note we closed yesterday at 7.3165.
  • USD/CNH spot is a little lower in early dealings today, last near 7.3230. Yen gains and the fixing bias may help CNH sentiment at the margin. Earlier highs we close to 7.3300.

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