USD/CNY fix projection: 6.3999 - 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 37 pips higher than the previous fix (6.3999 from 6.3962) and 61 pips higher than the previous official spot USD/CNY close of 6.3938. The basket implied change is 71 pips higher than the previous official spot USD/CNY close (6.4009 from 6.3938)."