USD/CNY fix projection: 6.3848 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 85 pips higher than the previous fix (6.3848 from 6.3763) and 88 pips higher than the previous official spot USD/CNY close of 6.3760. The basket implied change is 105 pips higher than the previous official spot USD/CNY close (6.3865 from 6.3760)."