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USD/CNY Fixing Lower - Error Term Stays Wide

CNH

The USD/CNY fixing printed at 7.1105, versus a Bloomberg consensus of 7.1873.

  • The fixing error remained close to recent wides at -768pips (it was -786pips on Friday). The actual fix ticked down from Friday's 7.1167 outcome.
  • USD/CNH is sub 7.2000 in line with broader USD softness today. As expected, the 1yr and 5yr LPRs were left unchanged. Friday lows around 7.1960/65 have held so far though.

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