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USD/CNY Fixing Error Re-Widens On Firmer USD

CNH

The USD/CNY fix printed at 7.1004, versus a Bloomberg consensus of 7.2102.

  • Today's fixing error in USD/CNY terms is -1098pips, versus yesterday's -868pip outcome. The resurgent USD trend has seen the fixing error re-widen. Today's outcome is a fresh wide back to mid Nov last year for the fixing error.
  • The actual fix was higher though back close to Mar 7 levels.
  • USD/CNH is slightly lower in the first part of trade, back sub 7.2200. This is line with a softer USD trend against the majors, although aggregate moves are modest at this stage.

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