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USD/CNY Fixing Back Sub 7.1300

CNH

The USD/CNY fix was set at 7.1289, versus a Bloomberg consensus of 7.2702.

  • The fixing error widened to -1413pips in USD/CNY terms versus yesterday's -1350pip outcome.
  • The actual fix was set lower compared with yesterday's 7.1305 outcome. This came despite the market consensus estimate higher today versus yesterday's expectation (7.2655).
  • Today's fixing was a very modest drop in percentage terms, but still the largest since end May.
  • USD/CNH is slightly lower following the fixing outcome, albeit not far south of 7.2900. It's lagging gains seen for yen and AUD.

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