USD/CNY projection: 6.5991 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 299 pips lower than the previous fix (6.5991 from 6.6290) and 168 pips lower than the previous official spot USD/CNY close of 6.6159. The basket implied change is 215 pips lower than the previous official spot USD/CNY close (6.5944 from 6.6159)."