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USD/CNY Fixing Error Rewidens

CNH

The USD/CNY fix printed at 7.0974, versus a Bloomberg consensus of 7.1882.

  • Today's fix saw the error term rewiden to -908pips from -839pips yesterday. This fits with some modest upside pressure for USD/CNY onshore spot through Wednesday's session.
  • It still appears the authorities will guard against USD/CNY breaking above 7.2000.
  • Still, the actual fix was a step up from Wednesday's outcome (7.0930).
  • USD/CNH has had a steady start to Thursday trade, last near 7.1935, little changed for the session. Earlier highs were at 7.1962.

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