USD/CNY fix projection: 6.3921 - Nomura

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

Key quotes:

"Our model1 projects the fix to be 235 pips lower than the previous fix (6.3921 from 6.4156) and 130 pips lower than the previous official spot USD/CNY close of 6.4051.
The basket implied change is 162 pips lower than the previous official spot USD/CNY close (6.3889 from 6.4051)."