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*USD/CNY Fixing Lower But Within Recent Ranges


* Correct fixing level
The USD/CNY fix printed at 7.1020, versus a Bloomberg consensus of 7.1890.

  • Today's fixing, while down from Friday's outcome, remains above 7.1000. This keeps us within recent ranges for the fixing outcome. Likewise for the fixing error at -870 pips (Friday's was -919pips).
  • USD/CNH has drifted a touch lower in the first part of dealing today, but only modestly, displaying a low beta to broader USD/Asia moves, which have generally been skewed lower. The pair was last near 7.2090.

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