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USD/CNY Fixing Steady, Wider Error Term Again

CNH

The USD/CNY fix printed at 7.0948, versus a Bloomberg consensus estimate of 7.2272.

  • Today's fixing is very similar to yesterday's outcome (7.0948). The fixing error widened further -1324pips, against -1276pips yesterday. This is another fresh wide back to early Nov last year.
  • USD/CNH sits slightly lower post the fix. We were last near 7.2565/70, against earlier highs above 7.2600.
  • Focus will now be on the onshore spot open and whether we can test 7.2300 on the topside.

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