USD/CNY fix projection: 6.3701 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 215 pips lower than the previous fix (6.3701 from 6.3916) and 174 pips lower than the previous official spot USD/CNY close of 6.3875. The basket implied change is 227 pips lower than the previous official spot USD/CNY close (6.3648 from 6.3875)."