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CNY Fixing - Stays At Neutral

CNH

The USD/CNY fix printed at 6.8717, versus the Bloomberg consensus estimate of 6.8721.

  • Today's outcome represents a -4pip surprise in USD/CNY terms. Yesterday the outcome was -1pip so we remain close to neutral. The rolling 5-day sum of the error term is -40pips, little changed from yesterday's levels.
  • USD/CNH is tracking lower in the first part of trade, the pair back to close to 6.8650, around 0.15% firmer in CNH terms since the open. This is back to lows from the start of the week. Outside of yen, the softer USD tone is helping CNH.

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