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CNH: USD/CNY Fixing Back Sub 7.1700, But Holds Recent Ranges

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EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

The USD/CNY fixing printed at 7.1697, versus a Bloomberg consensus of 7.2223. 

  • The fixing moved back sub 7.1700, but remains within recent ranges (we had a 7.1692 fixing on March 6th). the fixing error was -526pips, slightly narrower than yesterday's outcome. We were beyond -1100pips on this metric in early March. It has taken the bulk of the USD down move since then.
  • USD/CNH is little changed post the fixing, slightly weaker in CNH terms, last above 7.2300. Broader USD sentiment has ticked higher, led by modest losses since the open. 
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The USD/CNY fixing printed at 7.1697, versus a Bloomberg consensus of 7.2223. 

  • The fixing moved back sub 7.1700, but remains within recent ranges (we had a 7.1692 fixing on March 6th). the fixing error was -526pips, slightly narrower than yesterday's outcome. We were beyond -1100pips on this metric in early March. It has taken the bulk of the USD down move since then.
  • USD/CNH is little changed post the fixing, slightly weaker in CNH terms, last above 7.2300. Broader USD sentiment has ticked higher, led by modest losses since the open.