USD/CNY projection: 6.9116 - Nomura

Analysts at Nomura offered their projection for the USD/CNY fix at 6.9116.

Key Quotes:

"Our model1 projects the fix to be 2 pips lower than the previous fix (6.9116 from 6.9118) and 15 pips lower than the previous official spot USD/CNY close of 6.9131. The basket implied change is 18 pips lower than the previous official spot USD/CNY close (6.9113 from 6.9131)."