The USD/CNY fixing printed at 6.9681, versus a Bloomberg consensus of 6.9691.

• Today's outcome represents a -10pip surprise in USD/CNY terms. Yesterday's outcomes was +3pips.
• The 5-day rolling sum of the fixing error term is -55pips, the narrowest spread on this metric since mid-November.
• USD/CNH has tracked recent ranges, not getting too far away from the 6.9700 level (last 6.9685/90).