USD/CNY projection: 6.2953 - Nomura

Analysts at Nomura offered their model's projection for today's fix.

Key Quotes:

"Our model1 projects the fix to be 241 pips lower than the previous fix (6.2953 from 6.3194) and 51 pips lower than the previous official spot USD/CNY close of 6.3004. The basket implied change is 61 pips lower than the previous official spot USD/CNY close (6.2943 from 6.3004)."