USD/CNY projection: 6.9548 - Nomura

Analysts at Nomura offered their projections for the USD/CNY fix.

Key Quotes:

"Our model1 projects the fix to be 53 pips higher than the previous fix (6.9548 from 6.9495) and 1 pip lower than the previous official spot USD/CNY close of 6.9549. The basket implied change is 1 pip lower than the previous official spot USD/CNY close (6.9548 from 6.9549)."