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USD/CNY Fixing Rises, Fixing Error Modestly Positive

CNH

The USD/CNY fixing printed at 7.1299, versus a Bloomberg consensus of 7.1280.

  • The fixing error was modestly positive at +19pips in USD/CNY terms, compared with -6pips yesterday,
  • These are not dramatic shifts, but we saw risks the fixing error stayed negative given the USD's bounce through Wednesday trade.
  • USD/CNH edged above 7.1300 post the fixing, but there has been no follow through. Broader USD sentiment is softer which may be capping gains.

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