USD/CNY projection: 6.9711 - Nomura

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

Key Quotes:

"Model projection: 6.9711 versus 6.9476 previous (235 pips higher; 50 pips higher from the previous official spot close). Model projection with counter-cyclical factor: 6.9566 (90 pips higher from previous fix)."