USD/CNY fix projection: 6.3902 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 138 pips lower than the previous fix (6.3902 from 6.4040) and 54 pips lower than the previous official spot USD/CNY close of 6.3956. The basket implied change is 64 pips lower than the previous official spot USD/CNY close (6.3892 from 6.3956)."