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CNY Fixing Bias Slightly Weaker

CNH

The USD/CNY fixing printed at 6.7035, versus a market estimate of 6.7028.

  • Today's fixing is a modest +7pip surprise in USD/CNY terms, continuing the recent trend of modest positive surprises this week.
  • The 5-day rolling sum of the error term is back to flat from +20pips yesterday.
  • USD/CNH has been on the front foot in the early part of today's session, tracking above 6.7100. We remain within recent ranges though, with the overnight high of just above 6.7140 not yet breached.

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