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CNY Fixing - Still Close To Neutral


The USD/CNY fix printed at 6.9400, slightly below the 6.9411 consensus.

  • This is a -11pip surprise in USD/CNY terms, similar to yesterday's outcome (-14pips). The 5-day rolling sum of the error term is -23 pips, so still close to neutral.
  • USD/CNH is slightly higher in the first part of trade, last near 6.9575, in line with a firmer USD tone against the majors.

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