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CNY Fixing Neutral Relative To Expectations

CNH

The USD/CNY fix printed at 6.7292, versus a Bloomberg consensus of 6.7285.

  • Today's outcome represents a +7pip surprise in USD/CNY terms, which compares with yesterday's outcome of -6pips.
  • The rolling 5-day sum of the error term is now -12pips, so very close to neutral still.
  • USD/CNH got near to 6.7200 in early trade, amid fresh downside in USD/JPY, but we are now back to 6.7275 as USD sentiment has stabilized.

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