The USD/CNY fix printed at 7.1878, versus a Bloomberg market consensus of 7.3202.
- This keeps the fixing error wedged under 7.1900 for now. The fixing error narrowed to -1324pips, versus -1565pips yesterday.
- USD/CNH got to lows of 7.3342 in the first part of trade (aided by broader USD softness post headlines that the US economic team advising Trump was considering gradual tariff shifts). However, we sit higher now, last near 7.3450, little changed for the session.