USD/CNY projection: 6.8514 - Nomura

Analysts at nomura offered their projection for the USD/CNY fix today.

Key Quotes:

"Our model1 projects the fix to be 793 pips lower than the previous fix (6.8514 from 6.9307) and 303 pips lower than the previous official spot USD/CNY close of 6.8817. The basket implied change is 495 pips lower than the previous official spot USD/CNY close (6.8322 from 6.8817)."