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USD/CNY Fixing Close To Pre LNY Trends

CNH

The USD/CNY fix printed at 7.1036, versus a Bloomberg consensus of 7.1946.

  • Today's fixing outcome represents a -910pip surprise in USD/CNY terms. This is not too different from -856pips, which was the last fixing outcome prior to the holidays.
  • The actual fixing is down a touch relative to the last outcome of 7.1063.
  • USD/CNH has been biased lower in the first part of trade, last near 7.2055, which is 0.10% stronger in CNH Terms. Broader USD sentiment has been softer, while anticipation of a positive equity market open is also likely helping.

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