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USD/CNY Fixing Error Re-Widens

CNH

The USD/CNY fix printed at 7.1097, versus a Bloomberg consensus of 7.1802.

  • Monday's fix represents a -705pip error in USD/CNY terms. This is wider than Friday's -628pip outcome, but tighter than recent wides of -891pips.
  • The actual fix higher but also below mid Jan highs.
  • USD/CNH got above 7.1900 (high of 7.1907) in earlier dealings, with headlines that troubled porperty developer Evergrande and its creditors can't agree on restructuring (WSJ) weighing at the margins, but we now sit back below the 7.1900 level.

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