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USD/CNY Fixing Sub 7.1000, Error Term Stays Wide

CNH

The USD/CNY fixing printed at 7.0969, versus a Bloomberg consensus of 7.1879.

  • Today's outcome saw a slightly wider fixing error of -910pips (last Friday -903pips). The fixing error has stayed around the -900pip area in recent weeks, despite the USD correction lower.
  • The actual fixing was the lowest since the start of this year (7.077 on Jan 2).
  • USD/CNH is drifting lower in early trade, last near 7.1960. This is line with lower BBDXY levels, led again by yen strength. USD/CNH is still some distance from intra-session lows on Friday close to 7.1850.

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