Free Trial

USD/CNY Fixing Error Narrows But Remains Within Recent Ranges

CNH

The USD/CNY fix printed at 7.1049, against a Bloomberg consensus of 7.1858.

  • The fixing error term narrowed to -809pips in USD/CNY terms, versus -943pips yesterday. This is consistent with less yuan depreciation pressure. Still, we remain within recent ranges on this metric.
  • For USD/CNH we have drifted sub 7.2000 in the first part of Wednesday dealing. We were last near 7.1960, close to Tuesday lows.
  • Broader USD sentiment is softer, with the BBDXY lower modestly, as US yields tick down.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.