CNH: USD/CNY Fixing Highest Since Late Aug, Fixing Error Slightly Wider
The USD/CNY fix rose to 7.1128, versus the BBG market consensus of 7.1174.
- Yesterday's fixing was 7.1085, so today's move is in line with broader USD moves. Still, this is the highest fixing outcome since Aug 26th (7.1188).
- The fixing error widened to -46pips from -16pips yesterday.
- USD/CNH is a little higher in the first part of dealing today, last near 7.1130, which is close to intra-session highs from Thursday. Note the 20-day EMA is around 7.1285 in terms of potential upside resistance.
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