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USD/CNY Fixing Highest Since Jan 19 This Year

CNH

The USD/CNY fix printed at 7.1151, versus a Bloomberg consensus of 7.2571.

  • Today's fixing delivered a -1420pip surprise in USD/CNY terms, wider than yesterday's outcome, but within recent ranges.
  • The actual fix today set a fresh high back to Jan 19 (7.1167). it allows further modest depreciation pressures. Note the upside limit on USD/CNY spot today is 7.2574.
  • USD/CNH has firmed a touch post the fixing, rising above 7.2720, we were near 7.2700 prior to the result.
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The USD/CNY fix printed at 7.1151, versus a Bloomberg consensus of 7.2571.

  • Today's fixing delivered a -1420pip surprise in USD/CNY terms, wider than yesterday's outcome, but within recent ranges.
  • The actual fix today set a fresh high back to Jan 19 (7.1167). it allows further modest depreciation pressures. Note the upside limit on USD/CNY spot today is 7.2574.
  • USD/CNH has firmed a touch post the fixing, rising above 7.2720, we were near 7.2700 prior to the result.