The USD/CNY fixing printed at 7.1030, versus a BBG market consensus of 7.1281. * This was another f...
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The USD/CNY fix printed at 7.1441, versus a Bloomberg market consensus of 7.1736.
The fixing came in lower than yesterday's outcome, which was in line with the lower consensus estimate. Still the fixing error was tighter at -295pips, compared to -398pips on Tuesday.
USD/CNH is lower, last near 7.1760, but broader USD sentiment is also down, likely aiding the CNH move. More broadly recent ranges are firmly holding for USD/CNH.
RBA-dated OIS pricing is softer across meetings today.
Figure 1: RBA-Dated OIS – Current Vs. Prior
Source: Bloomberg Finance LP / MNI