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USD/CNY Fixing Lower, But Fixing Error Narrows

CNH

The USD/CNY fix printed at 7.1090, versus a Bloomberg consensus of 7.1462.

  • This compares with yesterday's fixing outcome of 7.1126, while late Nov lows for the fixing (7.1018) remain intact.
  • The fixing error narrowed sharply to -372pips, from -606pips.
  • USD/CNH is higher post the fixing, last back near 7.1370, little changed for the session. Earlier lows were at 7.1284.
  • Broader USD sentiment has stabilized a touch, while the market may have been looking for a firmer CNY fixing outcome as well.

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