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USDCNY Fixing Error Narrows Slightly, Remains Wide

CNH

The USD/CNY fix printed at 7.0942 versus a Bloomberg consensus estimate of 7.1810.

  • Today’s fix represents a -868 pip error in USDCNY terms, slightly lower than yesterday. The actual fix was marginally down on yesterday’s outcome of 7.0968.
  • USDCNH briefly rose above 7.1230 early in trading but has trended lower ever since and is now around 7.205. Focus is likely to remain on spot as it is approaching the 7.2000 level.

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