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USD/CNY Fixing Rises, But Error Term Re-Widens

CNH

The USD/CNY fixing rose to 7.1464, against a Bloomberg consensus estimate of 7.1742.

  • The fixing error has re-widened to -278pips, from -65pips yesterday (in USD/CNY terms). This is in line with a decent bounce in broader USD indices, post Thursday's better data outcomes.
  • The actual fix is just under recent cycle highs (7.1479).
  • USD/CNH is a little firmer in early Friday dealings, but remains within late Thursday ranges from the US session. We were last close to 7.1830.

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