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USD/CNY Fixing Error Tightens, Actual Fix Down A Touch

CNH

The USD/CNY fixing printed at 7.1122, versus a Bloomberg consensus of 7.2410.

  • Today's fixing error is -1288pips in USD/CNY terms, tighter than yesterday's -1411pip outcome. This fits the recent pattern of the fixing error fluctuating as USD trends shift (the error tightens amidst weaker USD backdrops).
  • The actual fix was 11pips sub yesterday's outcome, son only a modest down move.
  • Early USD/CNH trends have been relatively steady, with the pair close to 7.2600 in recent dealings, slightly down for the session.

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