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CNY Fixing - Strong Bias Maintained, Fixing Back Below 7.1900

CNH

The USD/CNY fix printed at 7.1886, versus a Bloomberg consensus of 7.2812.

  • Today's fix represents a surprise of -926pips in USD/CNY terms. This is close to yesterday's outcome of -955pips. The 5-day rolling sum of the error term is steady at -4913pips.
  • USD/CNH has tracked tight ranges in the first part of trade today. The pai last near 7.2850. Lows were at 7.2810, while highs rest at 7.2893.

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