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USD/CNY Fixing Lower, While Fixing Error Widens Modestly

CNH

The USD/CNY fix printed at 7.1036, versus a Bloomberg consensus of 7.1973.

  • This left the fixing error in USD/CNY terms at -937pips, so wider than yesterday's -856pip outcome, but still within recent ranges.
  • It is a similar backdrop for the actual fixing, which is lower compared with yesterday's 7.1063 outcome.
  • USD/CNH nudged a little higher in early trade, getting to 7.2184, but we now sit back at 7.2140/45, little changed for the session. The pair is largely following broader USD gyrations.
  • Onshore FX markets are closed all of next week for the LNY break.

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