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USD/CNY Fixing Edges Higher, Slightly Wider Fixing Error

CNH

The USD/CNY fixing printed at 7.1028, versus a Bloomberg consensus of 7.2215.

  • Today's fixing error is slightly wider at -1187pips in USD/CNY terms, but remains tighter than recent wides.
  • The actual fix is drifting higher, in line with USD gains, albeit at a very modest pace. The fixing remains sub late April highs of 7.1066.
  • USD/CNH hasn't been able to make much headway above 7.2300 so far today, tracking tight ranges. Later the focus will be on the April export print.

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