USD/CNY projection: 6.8902 - Nomura

Analysts at Nomura explained their projections for the USD/CNY fix today.

Key Quotes:

"Our model1 projects the fix to be 50 pips higher than the previous fix (6.8902 from 6.8852) and 74 pips lower than the previous official spot USD/CNY close of 6.8976. The basket implied change is 89 pips lower than the previous official spot USD/CNY close (6.8887 from 6.8976)."