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USD/CNY Fixing Firms Again, But Remains Below Late April Highs

CNH

The USD/CNY fixing was 7.1053, against a Bloomberg consensus of 7.2309.

  • Today's fixing saw a -1256pip error term in USD/CNY terms. This was slightly wider than yesterday's outcome.
  • The actual fix ticked higher but is sub late April highs (7.1066).
  • USD/CNH is just under Monday intra-session highs, last near 7.2420. We continue to see the market play the pair from a buy on dips standpoint.

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