USD/CNY projection: 6.7980 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 90 pips lower than the previous fix (6.7980 from 6.8070) and 182 pips lower than the previous official spot USD/CNY close of 6.8162. The basket implied change is 235 pips lower than the previous official spot USD/CNY close (6.7927 from 6.8162)."