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USD/CNY Fixing Higher Again

CNH

The USD/CNY fix printed at 7.1248, versus a Bloomberg consensus of 7.2674.

  • The fixing error re-widened to -1426pips in USD/CNY terms from -1365pips yesterday, but we remain within recent ranges.
  • The actual fix was the highest since Nov 22 last year. It is the 6th straight session of higher fixing prints in USD/CNY terms. The upside daily limit on USD/CNY is 7.2673 today.
  • USD/CNH has held steady post the fixing outcome. The pair was last near 7.2890, little changed for the session. We saw earlier selling interest above 7.2900.

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