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USD/CNY Fixing - Down Sharply In The Past Week

CNH

The USD/CNY fix printed at 7.1151, against a Bloomberg consensus of 7.1428.

  • Today's fix continues the weekly run of lower fixing outcomes in USD/CNY terms. We have dropped sharply from last week's end level of 7.1728.
  • Today's outcome is also a -277pip surprise in USD/CNY terms, close to yesterday's -296pip outcome.
  • USD/CNH initially dipped on the fixing outcome, but after getting to 7.1426 we found some support. Upticks are being faded though, the pair last near 7.1440/50. This is firmer overall in CNH terms, as broader USD sentiment has softened against the majors. We opened near 7.1525.

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