USD/CNY projection: 6.8937 - Nomura

Analysts at Nomura offered their projections for the Yaun fix.

Key Quotes:

"Our model1 projects the fix to be 28 pips higher than the previous fix (6.8937 from 6.8909) and 63 pips lower than the previous official spot USD/CNY close of 6.9000.

The basket implied change is 72 pips lower than the previous official spot USD/CNY close (6.8928 from 6.9000)."