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USD/CNY Fixing Steady - Error Term To Fresh Wides

CNH

The USD/CNY fixing was set at 7.0946, versus a Bloomberg consensus estimate of 7.2222.

  • Today's fixing saw a -1276pip error term in USD/CNY terms. This is fresh wides on the fixing error back to early Nov last year.
  • The actual fixing was very close to yesterday's outcome (7.0943).
  • USD/CNH is a touch higher in the first part of trade, in line with firmer USD index levels, but overall moves are modest. The pair last near 7.2500, with little reaction to the fixing so far.

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