USD/CNY fix projection: 6.3506 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 226 pips lower than the previous fix (6.3506 from 6.3732) and 26 pips lower than the previous official spot USD/CNY close of 6.3532. The basket implied change is 31 pips lower than the previous official spot USD/CNY close (6.3501 from 6.3532)."