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USD/CNY Fixing Sub 7.1000, But Error Term Unchanged

CNH

The USD/CNY fix printed at 7.0978, versus a Bloomberg consensus of 7.1881.

  • Today's fix is the lowest fixing outcome since the start of the year. It also ends a stretch since Jan 4 where the fixing has been above 7.1000. The fixing error though was unchanged today, still at -903pips.
  • USD/CNH has been relatively steady in the first part of trade. We hit lows of 7.1946 amid broader USD softness in the first part of trade, but we now sit higher, back above 7.2000, albeit little changed for the session.

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