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USD/CNY Fixing Rises, Error Term Stays Positive

CNH

The USD/CNY fixing printed at 7.1249, against a Bloomberg consensus of 7.1223.

  • Today's outcome leaves the fixing error in positive territory at +26pips in USD/CNY terms, although this is close to yesterday's +30pips outcome.
  • The positive fixing error continues to point to a modest lean against yuan appreciation pressures.
  • Coupled with a slightly firmer USD tone against the majors (mainly against the yen so far), may keep USD/CNH dips supported today.
  • USD/CNH pushed to session highs of 7.1309 post the fixing outcome, but has since eased back below this figure level.

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