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USD Extends Early Strength On Soft Bias In PBOC Mid-Point Fixing


The USD extends its early, broad bid within the G10 FX sphere after the PBoC USD/CNY mid-point fixing prints 39 pips above the BBG median forecast. While the deviation wasn’t large by historical standards, it has aided the pre-existing direction of USD travel. Note that some flag a deviation of -/+20 pips in the USD/CNY fixing vs. the wider spread expectations as a signal of “bias.”

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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