USD/CNY fix projection: 6.3857 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 41 pips higher than the previous fix (6.3857 from 6.3816) and 11 pips higher than the previous official spot USD/CNY close of 6.3846. The basket implied change is 12 pips higher than the previous official spot USD/CNY close (6.3858 from 6.3846)."