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CNY Fixing - Slightly Firmer

CNH

The USD/CNY fix printed at 6.7602, versus a Bloomberg consensus of 6.7635.

  • Today's outcome represents a -33pip surprise in USD/CNY terms, which compares with yesterday's outcome of -21pips. The rolling 5-day sum of the error terms sit at -55pips, slightly wider relative to yesterday.
  • The fixing outcome hasn't impact CNH. USD/CNH has traded with a positive bias through the first part of today's session. We were last around 6.7760, with some negative spillover from weaker JPY levels impacting CNH. Note we saw selling interest around 6.7900 late in Tuesday's Asia Pac session.

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