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USD/CNY Fixing Error Tightens Modestly

CNH

The USD/CNY fixing printed at 7.0930, versus a Bloomberg consensus of 7.1769.

  • Today's fixing saw a -839pip error in USD/CNY terms delivered. This is tighter than yesterday's -892pip outcome. Recent wides in the fixing error term were at -983pips, so we are some distance from that, but the average fixing error was -621pips in Jan of this year.
  • The actual fixing is the lowest since Jan 2.
  • USD/CNH is relatively steady in the first part of trade, last near 7.1870 and little changed for the session, despite a softer USD/JPY tone seen in the majors.

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