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CNY Fixing Slightly Firmer

CNH
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The USD/CNY fix printed at 6.8694, versus a Bloomberg consensus of 6.8708.

  • Today's outcome represents a -14pip surprise in USD/CNY terms. This compared with +5pips from Friday's session. The 5-day rolling sum of the error term is -32pips, slightly wider compared to Friday (-9pips).
  • USD/CNH is a touch lower in the first part of dealings today, last near 6.8800, after finishing last week around 6.8860. This is in line with a softer USD against the majors (albeit excluding the safe haven yen). As expected the 1yr and 5yr LPR rates were left unchanged.
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The USD/CNY fix printed at 6.8694, versus a Bloomberg consensus of 6.8708.

  • Today's outcome represents a -14pip surprise in USD/CNY terms. This compared with +5pips from Friday's session. The 5-day rolling sum of the error term is -32pips, slightly wider compared to Friday (-9pips).
  • USD/CNH is a touch lower in the first part of dealings today, last near 6.8800, after finishing last week around 6.8860. This is in line with a softer USD against the majors (albeit excluding the safe haven yen). As expected the 1yr and 5yr LPR rates were left unchanged.