USD/CNY projection: 6.7907 - Nomura

Analysts at Nomura explained that their model for today's USD/CNY fix.

Key Quotes:

"Our model1 projects the fix to be 146 pips lower than the previous fix (6.7907 from 6.8053) and 85 pips lower than the previous official spot USD/CNY close of 6.7992. The basket implied change is 103 pips lower than the previous official spot USD/CNY close (6.7889 from 6.7992)."