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USD/CNY Fixing - Another Sharp Drop, USD/CNH Sub 7.1400

CNH

The USD/CNY fix printed at 7.1406, versus the Bloomberg consensus of 7.1682.

  • This is another sharp drop in the USD/CNY fixing, following yesterday's outcome (7.1612). We are moved decisively away from the 7.17/18 region where the fixing sat for a number of months.
  • The fixing error is tighter, but still negative at -276pips (yesterday was -723pips).
  • USD/CNH has fallen in response to the fixing outcome. We have hit session lows of sub 7.1400 in recent dealings.

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