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USD/CNY Fixing Error Remains Wide, Actual Fix Down A Touch

CNH

The USD/CNY fix printed at 7.0968, versus a Bloomberg consensus estimate of 7.1991.

  • Today's fix represents a -1023pip error in USD/CNY terms, similar to what we have seen in recent sessions. The actual fix was down slightly from yesterday's outcome (7.0985).
  • USD/CNH briefly got above 7.2150 in the first part of trade (as USD/JPY Broke above 151.00), but there was no follow through.
  • Focus will also be on USD/CNY spot, given we remain close to the 7.2000 level. As expected, the 1yr and 5yr LPRs were left unchanged.

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