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USD/CNY Fixing Lower, Error Term Narrows

CNH

The USD/CNY fixing printed at 7.1006, versus 7.1670 Bloomberg consensus.

  • Today's fix shows a narrowing in the fixing error to -664pips from -738pips yesterday in USD/CNY terms. This is line with a weaker USD backdrop, although the fixing error is very much in line with recent levels.
  • The actual fix is back to earlier Jan levels, but remains above 7.1000.
  • USD/CNH has had a 7.1855-7.1894 range today (per BBG). The low vol period continues for the yuan.

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