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CNY Fixing Surprise Widens ​​​

CNH

The USD/CNY fixing printed at 7.2555, versus a Bloomberg consensus of 7.3148.

  • Today's outcome represents a -593pip surprise, which compares with yesterday's -461pip outcome. Still, today's outcome is in line with previous outcomes for the week.
  • This is another fresh cyclical high for the fixing, but only a +0.11% increase on yesterday's outcome, compared with yesterday's +0.38% rise.
  • USD/CNH is slightly lower post the fix. There hasn't been a great deal of follow through selling though, with the pair back close to 7.3300.

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