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CNY Fixing: Remaining Close To Neutral


The USD/CNY fixing printed at 6.8659, versus a Bloomberg consensus of 6.8653.

  • Today's fixing was +6pips higher in USD/CNY terms relative to expectations. This follows yesterday's +11pip outcome.
  • Whilst we have had two modest surprises (on the weaker CNY side) in terms of the last two fixing, we are still very close to expectations. The 5-day rolling sum of the error term is back close to flat.
  • USD/CNH is tracking higher in the first part of trade. We sit just below seesion highs, last near 6.8770/80, which is line with USD strength against the majors.

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