USD/CNY projection: 6.9359 - Nomura

Analysts at Nomura offered their outlook for today's fix.

Key Quotes:

"Our model1 projects the fix to be 138 pips lower than the previous fix (6.9359 from 6.9497) and 188 pips lower than the previous official spot USD/CNY close of 6.9547. The basket implied change is 244 pips lower than the previous official spot USD/CNY close (6.9303 from 6.9547)."