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USD/CNY Fixing Rises A Touch

CNH

The USD/CNY fix printed at 7.1159, versus a Bloomberg consensus of 7.1465.

  • This is the first rise in the fix in a little over a week. All of last week we tracked lower in terms of the USD/CNY fixing outcome (Friday's print was 7.1151).
  • While only a modest rise, short term CNH bulls may have been looking for another downward shift in the fixing. The fixing error was -306pips, close to Friday's outcome.
  • USD/CNH has drifted higher post the fixing outcome but found selling interest just above 7.1520. We last sat near 7.1480.

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