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CNY Fixing - Stronger Than Expected, But Narrower Than Friday Wides

CNH

The USD/CNY fix printed at 7.1987, versus a Bloomberg consensus of 7.2867.

  • This was a -880pips surprise in USD/CNY terms. This compares with Friday's -1041pip outcome. So whilst a little narrower than that outcome, it still well beyond the average seen in recent weeks. The 5-day rolling sum of the error term is slightly wider at -4293pips.
  • USD/CNH is slightly firmer in recent dealings, last at 7.3120/30. Earlier highs were just above 7.3180. This is close to Friday session highs.

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