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USD/CNY Fixing Error To Fresh Multi Month Wides

CNH

The USD/CNY fix printed at 7.1168, versus a Bloomberg consensus of 7.1953.

  • The fixing error has widened to -785pips, versus yesterday's -635pip outcome and the widest since mid-Nov last year. Higher USD levels are seeing the fixing error term continue to widen, to limit CNY depreciation pressures.
  • The actual fix was only marginally higher than yesterday's 7.1134 outcome.
  • USD/CNH has found selling interest in early dealings today, particularly on moves above 7.2200. The pair was last near 7.2135, down close to 0.10% for the session.

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