USD/CNY fix projection: 6.3903 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 106 pips lower than the previous fix (6.3903 from 6.4009) and 139 pips lower than the previous official spot USD/CNY close of 6.4042. The basket implied change is 174 pips lower than the previous official spot USD/CNY close (6.3868 from 6.4042)."