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USD/CNY Fixing Error Term Widens, Guarding Against Depreciation Pressures

CNH

The USD/CNY fix printed at 7.0968, versus a Bloomberg consensus of 7.2565.

  • The fixing error widened to -1597pips, versus -1355 yesterday. This is fresh wides going back to at least 2018.
  • The actual fix was only set a touch above yesterday's outcome of 7.0959.
  • USD/CNH is lower post the fix, last near 7.2560. The upside limit on daily USD/CNY spot is 7.2387.
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The USD/CNY fix printed at 7.0968, versus a Bloomberg consensus of 7.2565.

  • The fixing error widened to -1597pips, versus -1355 yesterday. This is fresh wides going back to at least 2018.
  • The actual fix was only set a touch above yesterday's outcome of 7.0959.
  • USD/CNH is lower post the fix, last near 7.2560. The upside limit on daily USD/CNY spot is 7.2387.