CNH: USD/CNY Fixing Edges Up, But Error Term Tighter
The USD/CNY fix printed at 7.0187, versus a BBG market consensus of 6.8949. The fixing was higher than yesterday's outcome, but this was expected by the market, given higher USD levels. The fixing error was tighter than yesterday's +438pip outcome, printing at +338pips today. Spot USD/CNH is little changed so far today, holding near 6.9800 and supported sub this figure level so far in trade.
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MNI: CHINA PBOC CONDUCTS CNY122.3 BLN VIA 7-DAY REVERSE REPO MON
- CHINA PBOC CONDUCTS CNY122.3 BLN VIA 7-DAY REVERSE REPO MON
CNH: USD/CNY Fixing Error Positive Trend Continues, USD/CNH Steady
The USD/CNY fix printed at 7.0764, versus a BBG market consensus of 7.0739. This leaves the fixing error remaining positive, today at +25pips but down from Friday. This continues to point to a steady outlook for the yuan. Spot USD/CNH is a little lower post the fixing, last around 7.0673/677. Recent highs are just above 7.0800, in terms of a potential upside focus point.
CHINA SETS YUAN CENTRAL PARITY AT 7.0764 MON VS 7.0749
- CHINA SETS YUAN CENTRAL PARITY AT 7.0764 MON VS 7.0749
