The USD/CNY fixing printed at 7.1659, versus a Bloomberg consensus of 7.1672. 

• Today's fixing outcome remains close to neutral. Yesterday's USD/CNY fixing error was -26pips, today's is -13pips.
• The actual fix is the highest since Nov 17 2023.
• USD/CNH is firmer post the fixing outcome, rising form sub 7.2000 to fresh highs above 7.2100. We sit slightly lower now. The market might have been expecting greater push back in terms of the fixing error.
• Focus will now rest on the onshore open and potential for further depreciation pressures.