USD/CNY fix projection: 6.3238 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 148 pips lower than the previous fix (6.3238 from 6.3386) and 163 pips lower than the previous official spot USD/CNY close of 6.3401. The basket implied change is 210 pips lower than the previous official spot USD/CNY close (6.3191 from 6.3401)."