USD/CNY fix projection: 6.2850 - Nomura

Analysts at Nomura offered their model's projection for today's USD/CNY fix.

Key Quotes:

"Our model1 projects the fix to be 195 pips lower than the previous fix (6.2850 from 6.3045) and 110 pips lower than the previous official spot USD/CNY close of 6.2960. The basket implied change is 135 pips lower than the previous official spot USD/CNY close (6.2825 from 6.2960)."