USD/CNY projection: 6.2794 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 23 pips lower than the previous fix (6.2794 from 6.2817) and 60 pips lower than the previous official spot USD/CNY close of 6.2854. The basket implied change is 72 pips lower than the previous official spot USD/CNY close (6.2782 from 6.2854)."