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

Key Quotes:

“Our model1 projects the fix to be 342 pips lower than the previous fix (6.8376 from 6.8718) and 149 pips lower than the previous official spot USD/CNY close of 6.8525. The basket implied change is 187 pips lower than the previous official spot USD/CNY close (6.8338 from 6.8525).