USD/CNY fix projection: 6.9508 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 196 pips higher than the previous fix (6.9508 from 6.9312) and 58 pips higher than the previous official spot USD/CNY close of 6.9450. The basket implied change is 67 pips higher than the previous official spot USD/CNY close (6.9517 from 6.9450)."