May 31, 2024 01:21 GMT
USD/CNY Fixing Back Under 7.1100, Error Term Narrows
CNH
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The USD/CNY was set at 7.1088, versus a Bloomberg consensus of 7.2398.
- Today's fix delivered a -1310pip surprise in USD/CNY terms, which was is noticeably tighter than yesterday's -1483pips outcome, but still within recent ranges.
- The actual fix maintains a low vol, albeit off recent highs.
- USD/CNH has been supported on dips sub 7.2500 so far today. Coming up soon we have the offical PMI pritns for May.
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