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USD/CNY Fixing - Record Wide On Fixing Error Term

CNH

The USD/CNY fix printed at 7.1778, versus a Bloomberg consensus of 7.3295.

  • Today's outcome delivers a fixing error of -1517pips in USD/CNY terms, so a fresh record wide.
  • The actual fixing is -1pip below yesterday's outcome. So, we continue with very steady fixing outcomes.
  • The upside cap on USD/CNY today is ~7.3214.
  • USD/CNH is a little lower in the first part of trade today, back near 7.3350. This is outperforming higher beta plays which are weaker against the USD, but it is in line with some yen strength.

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