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USD/CNY Fixing Up Slightly, Error Term Widens

CNH

The USD/CNY fix printed at 7.1030, versus a Bloomberg consensus of 7.2261.

  • Today's outcome saw a fixing error of -1231pips in USD/CNY terms, wider than Friday's outcome, but remaining within recent ranges.
  • The actual fix has ticked higher, but likewise remains within recent ranges.
  • USD/CNH has ticked up in dealings so far today, last around 7.2385. Broader USD sentiment has been firmer, while weekend China data was disappointing on credit growth. We also have a potential US tariff announcement this week, acting as an additional headwind.

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