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USD/CNY Fixing Edges Higher

CNH

The USD/CNY fix printed at 7.1059, versus a Bloomberg consensus of 7.2444.

  • The fixing outcome saw an error term of -1385pips in USD/CNY terms, wider than yesterday's -1292pips outcome, but within recent ranges.
  • The actual fix is the highest since late Feb, but only marginally above yesterday's outcome of 7.1043. The upper limit on daily spot is around 7.2480.
  • USD/CNH is a touch weaker post the fixing, but still above 7.2500 at this stage. Broader USD sentiment is softer, which is likely helping at the margins.

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