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CNY Fixing - Steady Despite Firmer USD, Error Term Re-Widens


The USD/CNY fix printed at 7.1775, versus a Bloomberg consensus of 7.3172.

  • The USD/CNY fixing error has re-widened to -1397pips, compared to yesterday's -1170pips. On Tuesday this metric was -995pips.
  • The re-widening coincides with higher USD levels over recent sessions. The actual fixing is very close to yesterday's levels (7.1776).
  • USD/CNH is slightly lower in recent dealings, last near 7.3060, after opening closer to 7.3100. Broader USD momentum is slightly softer (BBDXY -0.07%), as US yields give back part of Thursday's gains in the first part of trade today.

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